Further details are filtering out about negotiations over Singapore Telecommunications Limited (SGX:Z74) (Singtel)'s Australian telecommunication company Singtel Optus Pty Limited (Optus) and Brookfield Asset Management Ltd. (TSX:BAM). Apparently, the size of the stake that Brookfield has been in talks to buy is close to 20%, say sources. Should the company be worth about $16 billion, that would put the size of the deal at around $3 billion.

Working with Singtel on a potential sell down of Australia's second largest telecommunications provider is JPMorgan, while Brookfield is self-advised. It is understood that talks about a sale have been unfolding for at least a couple of months, and were flagged in an industry publication around the end of last year. Many believe that most of the negotiations, described as "some dialogue about a stake", are unfolding out of Asia.

Brookfield has declined to comment.