CGS-CIMB Research is keeping its “add” recommendation on Singtel with an unchanged target price of $3.10, as Singtel announced that Optus will be acquiring amaysim for a consideration of A$250 million ($240.0 million).

Amaysim is the largest mobile virtual network operator (MVNO) in Australia and fourth largest mobile provider in the country with 1.19 million mobile customers as at Oct 20, 2020.

In the same announcement, Optus says it has launched Gomo, a digital-only offering in the MVNO market targeting value-conscious Australians seeking easy mobile connectivity. Under Gomo, customers will be able to access onboarding, service and payments 24/7 under one app. Gomo customers will also be able to benefit from Optus’ premium nationwide.

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