M1 sale by Keppel in Singapore collapses after $1bn process

Keppel said the sale process for Singapore operator M1 has ended without a deal after a proposed transaction valued at about US$1 billion failed to complete.

TL;DR

• Keppel ended the sale process for Singapore mobile operator M1 after the roughly US$1 billion divestment did not complete.
• Keppel is moving to a broad cost-cutting plan at M1 following the failed sale.
• The company did not rule out another attempt to divest M1 later.

M1 is a Singapore telecommunications operator. The reported sale process had valued the business at around US$1 billion, but the transaction is now officially off, according to the source report.

Keppel, the owner of M1, is now pursuing what the report described as a broad and immediate cost-cutting exercise. The report said this is the fallback plan after the failed sale process.

Keppel has not excluded a future divestment attempt for M1. The report said the end of the current sale process does not preclude another effort to sell the operator at a later stage.

Related questions

• Who owns M1 in Singapore?
• Why did the M1 sale process end without a deal?
• What is Keppel doing after the failed M1 sale?
• Could Keppel try to sell M1 again later?