Around 4 per cent of the fund will now be exposed to the Regal Kilter Water strategy following an Australian Taxation Office tax ruling.
Singtel is writing off billions of dollars, cushioned by a $1.6 billion cash deal with rival TPG Telecom to expand telecommunications services in regional Australia.
Just 14 months ago, TPG and Optus apparently hated each other’s guts. But their new regional mobile networking sharing deal shows commercial logic has prevailed.
The clean-up of the gaming company is one for the ages. And there’s a name keeps coming up as a potential salvage CEO - former Lendlease boss Steve McCann.
The deal was completed on Monday and is set to be announced this week.