SPECULATION is growing around a merger between telcos StarHub and M1 after a Macquarie report had analyst Foo Zhiwei noting that StarHub has deferred the payment for its 700-megahertz (MHz) spectrum to somewhere between November 2024 and end-June 2025. $StarHub(CC3.SI)$ $Singtel(Z74.SI)$ $DBS GROUP HOLDINGS LTD(D05.SI)$ $JD.com(JD)$ $Keppel(BN4.SI)$