TeleGeography CommsUpdate reports that Singapore-based MyRepublic has announced that it has executed a ‘subscriber transfer agreement’ with Australian operator Superloop relating to the divestment of its National Broadband Network (NBN)-based fixed broadband subscriptions. The company clarifies that the deal solely involves subscriptions and does not include any assets or liabilities of the MyRepublic legal entity.
MyRepublic subs to Superloop
The agreement – which marks the Singapore-based telco’s exit from the Australian fixed broadband market, where it has operated since 2016 – took effect on 23 December 2022. Going forward, MyRepublic and Superloop expect the bulk of the subscriber migration to take place in February 2023, pending the completion of the network transition.
Strategic refocus
The Singaporean telco says the deal was driven by ‘a strategic refocus towards profitability and liquidity, lowering costs of operations’. The company remains focused on its mobile and fixed broadband businesses in Singapore.
Strangely, however, MyRepublic’s Australian website makes no mention of the move and is still offering NBN broadband plans. Under ‘About Us’, it mentions, “As the fastest growing telecom operator in Asia-Pacific, MyRepublic has operations across Singapore, New Zealand, and Australia, and is set to expand further into the region.”
Related article: StarHub to acquire 50.1% stake in MyRepublic’s broadband business
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