Asia Tech Wire (Apr 29) -- Singapore Telecommunications (Singtel) announced on Monday that its Australian unit Optus has reached an agreement with local rival TPG Telecom on network sharing.

The two parties signed an agreement to create a regional multi-operator core network in Australia.

Over the 11-year term of the agreement, Optus expects to receive service fees totaling about A$1.6 billion, with incremental cash flow expected to be about A$900 million over the same period.

Optus will provide regional wireless access network services to TPG Telecom, and the parties will share spectrum in regional Australia.

And TPG Telecom will increase its mobile network sites in regional Australia from approximately 755 to 2,444.