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MVNOs face consolidation threat in 2026, say analysts

With the Simba-M1 merger, mobile virtual network operators could lose bargaining power and thus may have to tie up or exit

Young Zhan Heng
Published Thu, Dec 4, 2025 · 08:37 PM
    • An analyst notes that MVNOs with select "customer niches” will perform better in Singapore, though such niches may be “sub-scale” in the Republic.
    • An analyst notes that MVNOs with select "customer niches” will perform better in Singapore, though such niches may be “sub-scale” in the Republic. PHOTO: BT FILE

    [SINGAPORE] Mobile virtual network operators (MVNOs) face a shrinking runway, as rising wholesale costs threaten to force smaller players out of the market, analysts told The Business Times.

    The anticipated Simba-M1 merger is expected to help stabilise prices for consumers in an extremely competitive telco market in Singapore. However, analysts noted that the merger means that MVNOs may risk losing bargaining power as the number of host networks reduces.

    MVNOs do not own network infrastructure, and so depend on mobile network operators (MNOs) such as the Simba-M1 entity, StarHub and Singtel.

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