Keppel seeks new buyers for M1 after IMDA halts Simba review

Keppel said it will seek new buyers for Singapore operator M1’s telecom business after the Infocomm Media Development Authority (IMDA) suspended its review of Simba Telecom’s proposed acquisition.

TL;DR

• Keppel will look for alternative buyers for M1’s telecom business in Singapore.
• IMDA suspended its review of Simba Telecom’s proposed acquisition of M1.
• The suspension followed an alleged breach of regulations, according to the report.

Keppel is changing course on the sale of M1’s telecom business after the proposed transaction with Simba Telecom stalled. The reported reason is IMDA’s decision to suspend its review of the deal.

IMDA is Singapore’s telecom and media regulator. According to the report, the regulator suspended its review because of an alleged breach of regulations tied to the proposed acquisition.

M1 is a Singapore mobile operator, and Simba Telecom had been the proposed buyer in the transaction under review. Keppel will now explore other potential buyers for M1’s telecom business instead of waiting for the suspended review process to resume.

Related questions

• Why did Keppel stop pursuing the sale of M1 to Simba Telecom?
• What action did Singapore’s IMDA take on Simba’s proposed acquisition of M1?
• Who may buy M1’s telecom business after the Simba deal stalled?