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OPTUS OVERVIEWOptus was launched on 31 Jan 1992 as a second carrier in Aust. It paid $800m for the second licence and Aussat debt free. It has a mobile digital network, an optical fibre city ring and an interstate network. Optus began by reselling Telecom analogue mobile services. Optus then commenced with Mobiles (analogue and GSM) IDD and STD areas.Optus later undertook a major move into the Pay TV and Local Call market with the launch of Optus Vision. Vision would carry telephone and broadband services, in order to capture some basic access market. An Optus press release stated that it will offer local calls for 15 cents (Optus-Optus customer) and 20-22 cents for Optus to Telstra customers. Optus has not had stable management. Bell South first pulled out leaving C&W as majority owner. In 2001, SingTel made a successful offer. Below is a history of both companies.
March 2001: COMPETITION TOO MUCH TO HANDLE
Nov 2001 Oct 2001 Optus rescues COMVergent by buying RSL COM, a reseller of Optus mobiles. RSL had 120,000 residential customers. US parent, RSL communications filed for bankruptcy in March. See RSL COM History. Financial Year ends 31 March. A$m 96-97 97-98 98-99 99-00 00-01 Sales $2510m $2933m $3405m $4200m $4900 Oth Revenue $ 20m $ 13m $ 13m Depreciation $ 330m $ 446m $ 521m EBIT $ -81m $ 182m $ Net Interest $-152m $-223m $-124m Profit pre Tax $-233m $ -41m $ $ 371 Abnormals $-434m $ -55m $ -92m Tax $ - - - Net Profit $-667m $ -95m $ 113m $264m Payment to Other Carriers $ $ 904m $ 26 March 2001: SingTel made an offer for the Cable & Wireless majority holding in Optus. Singtel has several options but is expected to pay about A$17bn. The offer represents a premium of 13%, at A$4.50 per share. They last traded at A$3.99. C&W Optus has 8,569 employees.
RSL is a Bermudan company. RSL purchased the failed Pacific Star. MD Adrian Coote. In Apr 98 it claimed 100,000 mobile customers. It has also purchased some smaller niche players (call Australia First Direct and the customer base of Link Telecoms). History Note: Pacific Star: (owned Telstra NZ and Bell Atlantic 50:50) Clients WA and Qld Governments, Dalgety Westfarmers, Cadbury Schweppes, Defence. It was considered the second largest reseller. However its future is now uncertain, staff have been cut and some assets were sold. Call Australia: claims 11,000 customers Oct 2001 Optus rescues COMVergent by buying RSL COM, a reseller of Optus mobiles. RSL had 120,000 residential customers. US parent, RSL communications filed for bankruptcy in March. Mar 2003 RSL buys failed New Tel fixed line customers - about 50,000 fixed line. |
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