Online Stockmarket Trading Update

Optus has won a $500 million contract with ANZ, challenging Telstra s dominance in the field of providing telecommunications services to the big four banks.

Under the 5-year deal Optus parent company SingTel will provide new network infrastructure for ANZ operations in 30 countries across the Asia Pacific, including Australia and India.

In doing so, SingTel will become the ANZ s exclusive telco provider, ousting Telstra, whose existing contracts with the bank are valued at around $30 million a year.

For the ANZ, the project forms part of the bank s push to expand into Asia.

For more info, read this article in The Australian

Codes for your watchlist

• Telstra: TLS.AX (ASX)
• ANZ Bank: ANZ.AX (ASX)
• Singapore Telecommunications: SGT (ASX); STEL (SGX)