StarHub, Keppel Confirm Talks for M1 Deal

MT Newswires09-24

StarHub (SGX:CC3) and Keppel (SGX:BN4) have confirmed talks for a potential deal involving telecommunications company M1, a subsidiary of Keppel, in separate filings to the Singapore stock exchange on Wednesday.

Keppel's shares were up nearly 2% in Thursday's trade.

They said the discussions were ongoing and there is no certainty or assurance that the talks would progress beyond the current stage.

The companies' statements come in response to a recent report by The Business Times, which said the two companies were in talks, after Simba's proposed SG$1.4 billion acquisition of M1's telecom business fell through in May.

After its H1 results, Keppel had said it continues to explore opportunities for consolidation with respect to M1, which was needed for Singapore's telco sector.

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