Top M1 shareholders in strategic review of their stakes

Singapore

THE three major shareholders of M1 are exploring a sale linked to their all-in 61 per cent stake in Singapore's smallest telco operator, shaking up the competitive landscape ahead of the official launch of Singapore's fourth and freshest telco.

The two Singapore-listed shareholders of M1 - Singapore Press Holdings (SPH) and Keppel Telecommunications & Transportation (Keppel T&T) - on Friday made public their discussions with Malaysian telco Axiata Group over their respective stakes in M1. This came after a spike in the share price in M1 prompted a query from the Singapore Exchange (SGX).

Both SPH and Keppel T&T said they are, with Axiata, "currently undertaking a strategic review in respect of their respective shareholdin…