China Mobile, others approached for buying into M1: sources

Singapore

TOP shareholders in Singapore telecoms company M1 Ltd have approached potential buyers China Mobile and global private equity firms, among others, to sell their combined majority stake in the firm, sources familiar with the matter said.

The three main shareholders of Singapore's smallest listed telecoms player, who own a combined 61 per cent, flagged a strategic review of their investments last month, and jointly appointed Morgan Stanley as their financial adviser. They did not give a reason behind the review of their stake in the S$1.9 billion company.