Singtel eyes bid for Australia's wireless operator Amaysim

This would give the telco access to the operator’s 1.1 million mobile subscribers.

Bloomberg reports that Singtel is working with the Bank of America for a possible bid for Australia’s wireless operator Amaysim, people with knowledge of the matter said.

The appointment was made in the last two weeks.

The deal would mean that Singtel would be able to access Amaysim’s 1.1 million mobile subscribers. Meanwhile, shares of Amaysim jumped as much as 19%, its biggest intraday gain in two years.

Singtel hasn’t decided how large a stake it would eventually seek in Amaysim, the people said. Deliberations are at an early stage, and there’s no certainty they will result in a bid, they said.

Representatives for Singtel and Bank of America declined to comment, while a spokesman for Amaysim said he couldn’t immediately comment.

Read the full report here.