Singapore Telecommunications (Singtel), on Nov 2, says its subsidiary Optus has acquired amaysim for a consideration of A$250 million ($240.0 million), payable in cash.

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.

Under the terms of the agreement, Optus will acquire amaysim’s 1.19 million customers and shares. Amaysim will also remain as a standalone brand following the completion of the acquisition.

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