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Keppel, SPH seek trading halt pending announcement
SINGAPORE Press Holdings (SPH) and Keppel Corp both requested for a halt in the trading of their shares with immediate effect on Thursday morning before the market open.
The request was made pending the release of an announcement.
According to Bloomberg earlier this week, the media group and diversified marine conglomerate are considering making a bid for telco M1, Singapore's smallest mobile operator.
Keppel owns 19.3 per cent of M1 through Keppel Telecommunications and Transportation (Keppel T&T), while SPH has a 13.45 per cent stake.
Trading in Keppel T&T and M1 shares has been halted since Monday. On Wednesday, Keppel closed at S$7.16 a share, up three Singapore cents, or 0.4 per cent, from Tuesday's close, while SPH ended at S$2.79 a share, down four Singapore cents, or 1.4 per cent.
SPH owns The Business Times.