Singtel, StarHub hitch a ride on M1's rally

Singapore

SPECULATION about a possible takeover of M1 sent shares of its telco rivals climbing on Friday, even if the fundamental underpinning for the spillover eluded analysts.

Singapore Telecommunications, the largest of Singapore's three listed telcos, rose 1.01 per cent, or four Singapore cents, to close at S$3.99 after hitting an intraday high of S$4.01.