Singapore Telecommunications Limited (ASX:SGT) owned Optus Mobile has announced it will pay $6 million to buy Eatability.
Eatability is an eating guide and the owner of restaurant review portal eatability.com.au and has become one of the country’s leading review sites.
SingTel says Eatability was valued at approximately $70,000 at the end of 2011.
The transaction is still subject to approvals, but is expected to be finalised by September 2012.
Singapore Telecommunications reported a full year net profit of $3.05 billion.
