Australian telco Optus has this week announced it will sell 340 mobile towers and rooftop sites to Australian digital infrastructure company Waveconn.

The carrier noted that the deal will be a sale and lease-back agreement with Waveconn.

Optus said the transaction is part of the company's strategy to "unlock capital for future investment and enhance customer experience."

According to Optus, the agreement includes both existing and in-progress mobile sites. Financial terms were not disclosed, while the deal remains subject to all relevant government and customary regulatory approvals. 

The carrier will retain full ownership and operational control of all active network equipment following the sale of the passive tower and rooftop infrastructure.

"This agreement with Waveconn is consistent with our long-term strategy to consolidate passive tower assets, allowing Optus to focus on delivering and operating great mobile connectivity for our customers," said Tony Baird, chief technology officer, networks at Optus. “Optus will continue to operate all active network equipment, maintain service quality, and ensure every site meets with safety and compliance standards.”

Waveconn will build new mobile sites for Optus under the existing build programs. So far, Optus currently accesses more than 900 Waveconn sites.

Last year, it was reported that AustralianSuper urged Optus to build more than 500 new towers for its Australia Tower Network (ATN).

AustralianSuper, the majority owner of the ATN, entered an agreement back in 2021 to buy a 70 percent stake in ATN from Singtel, the parent company of Optus, for AU$1.9 billion ($1.25bn).