Keppel, Simba Telecom agree to extend long-stop date for proposed M1 deal

[SINGAPORE] Keppel and Simba Telecom have mutually agreed to extend the long-stop date for the proposed M1 deal to May 21.

In a bourse filing on Thursday (Mar 26), Keppel noted that M1, Simba and other relevant parties had submitted a consolidation application to the Infocomm Media Development Authority of Singapore (IMDA) on Sep 26, 2025.

This was after Keppel had, in August 2025, proposed to divest M1’s telco business to mobile network operator Simba at an enterprise value of S$1.43 billion in an all-cash deal.

Read more: Telco wars: a timeline from a crowded market to consolidations

The sale and purchase agreement would have been terminated and ceased to have effect if certain conditions were not fulfilled and waived before the long-stop date, which was originally set at six months from the date of submission of the consolidation application to IMDA.

Keppel said that regulatory review of the proposed transaction remains under way, and that M1 and Simba are “in the process of making further submissions to IMDA”.

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On Friday (Mar 27), shares of Keppel fell as much as 4.6 per cent in early trading.