The country?s second-largest telecommunication group is understood to be exploring options to unlock value for long-standing shareholder Singapore Telecommunications Limited (SGX:Z74), which ticked past 23 years of ownership in October. Former Optus CEO Kelly Bayer Rosmarin during a Senate hearing in Canberra in November. Sources say Singtel Optus Pty Limited executives have considered several divestments over the past two years to help Singtel take some money off the table.

The deliberations were live as of late last year, sources said, having survived a headline-grabbing cyberattack and network outages which claimed the company?s then chief executive, Kelly Bayer Rosmarin. One option under consideration has been divesting Optus? enterprise and business division, sources said.

Street Talk is not suggesting Optus is about to finalise a deal. But it?s no secret private capital types love an unloved corporate carve-out and there should be plenty of buyers if Optus were to formally erect the for-sale sign. Optus declined to comment.

Singtel?s annual reporting, however, drops telltale signs that parts of the business are being dressed up to stand on their own outside the broader group. Any deal making efforts are likely to be impeded in the near-term by ructions within Optus? highest echelons.

Bayer Rosmarin?s resignation in November catapulted Optus?s chief financial officer Michael Venter to the top job on an interim basis, while Singtel searched for a permanent replacement. It was one step forward and two steps back for telcos in deal making last year. TPG Telecom and Telstra?s regional network sharing agreement was kiboshed by the regulator.

Perhaps more painfully, TPG?s $6.3 billion divestment of its fibre assets to Vocus died after months of negotiations.