Keppel and StarHub have confirmed by separate disclosures to the Singapore Inventory Trade on Wednesday that they’re in talks over a possible transaction involving M1.
Keppel has a controlling curiosity in M1, which is Singapore’s third-largest telecom operator.
Each firms made the disclosure after The Enterprise Instances reported earlier within the day that Keppel and StarHub had been “in superior talks” concerning the M1 deal, citing unnamed sources.
“The corporate is in ongoing discussions with StarHub concerning a doable transaction in relation to M1, however there is no such thing as a certainty or assurance that any transaction will materialize,” Keppel mentioned in its inventory alternate submitting, emphasizing that discussions are ongoing and “nothing definitive has been reached at this stage”.
Keppel mentioned that it’s persevering with to discover consolidation alternatives with respect to M1, which it claims are obligatory for the Singaporean telecom sector. The corporate added that it’s now targeted on enhancing M1’s efficiency “to maximise its strategic worth within the occasion of any future business consolidation”.
In its personal disclosure, StarHub concurred that its talks with Keppel don’t assure a transaction shall be made.
“There isn’t any certainty or assurance in any respect that these discussions will progress past the present stage or that any transaction in respect of M1 will come up,” StarHub mentioned in its inventory submitting.
“The corporate will, in compliance with its obligations beneath the Itemizing Guide of the Singapore Trade Securities Buying and selling Restricted (the ‘SGX-ST’), make the suitable announcement(s) sooner or later within the occasion of any materials improvement which warrants disclosure,” the telecom operator added.
Proposed take care of Simba Telecom
The discussions between Keppel and StarHub comply with the collapse of Simba Telecom’s proposed buy of M1’s telecom enterprise for 1.43 billion Singapore {dollars} (US$1.12 billion) in Could.
The proposed deal between Keppel and Simba Telecom was first introduced in August 2025, when Keppel revealed that the divestment of M1’s telecom enterprise was consistent with its present technique of changing into an “asset-light world asset supervisor and operator”.
The deal hit a serious hurdle when the Infocomm Media Improvement Authority (IMDA), Singapore’s telecom regulator, suspended its assessment of the M1 acquisition, main Keppel to let its share buy settlement with Simba expire. This permits Keppel to hunt different patrons for its M1 telecom enterprise.
If the sale of M1 goes by, it is going to mark the primary telecom consolidation in Singapore’s historical past. StarHub and M1 presently rank second and third respectively by way of market share within the nation.
