By Stuart Condie

SYDNEY--Amaysim Australia Ltd. agreed to sell its mobile business to long-term wholesale partner Optus Mobile Ltd. in a deal that will lead to the delisting and winding up of the virtual network operator.

Amaysim on Monday said it had entered into a share sale agreement with the Singapore Telecommunications Ltd.-owned firm for a cash consideration of 250 million Australian dollars (US$175.7 million). It said the offer provides shareholders with a premium and certainty in an increasingly competitive market, and removes risk associated with the wholesale tender process.

The board unanimously recommended shareholders accept the offer, which is expected to go to a vote at a special meeting in January.

Amaysim said the sale agreement came after it received unsolicited approaches for the unit following the August announcement of the sale of its energy retail business to AGL Energy Ltd.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

11-01-20 1710ET