News
AustralianSuper says Optus is failing to deliver the more than 500 additional towers it requires as part of a deal with Australia Tower Network
According to The Australian Financial Review, Australian telco Optus is in the midst of a dispute with pension fund AustralianSuper, with the latter accusing them of failing to build new towers as per their agreement.
Back in 2021, AustralianSuper bought a 70% stake in Australian Tower Network (ATN) from Optus’ parent company Singtel for A$1.9 billion.
As part of the agreement, Optus was obligated to build 565 additional towers via ATN in the next three years, to be added to the 2,312 sites already included in the deal.
Now, with the three-year deadline approaching, Optus is reportedly behind schedule on its tower build, a fact it blames on struggling to identify suitable locations.
The exact tower deficit is unclear.
Reports suggest that discussions between Optus and ATN to resolve the issue are ongoing.
ATN acquired its tower rival Axicom in 2022, a move that saw it roughly double its tower footprint across the country. Shortly after, the company subsequently rebranded as Indara.
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