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‘Not the marriage we expected’: analysts surprised by Simba’s acquisition of M1

Despite the surprise, analysts view this as a positive outcome for the telco industry in Singapore

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Young Zhan Heng

Young Zhan Heng

Published Mon, Aug 11, 2025 · 06:47 PM
    • A Citi report noted that assuming the merger with M1 is complete, Simba’s revenue share will rise from its current 6 per cent to 24 per cent, making it on a par with StarHub’s 23 per cent revenue share.
    • A Citi report noted that assuming the merger with M1 is complete, Simba’s revenue share will rise from its current 6 per cent to 24 per cent, making it on a par with StarHub’s 23 per cent revenue share. PHOTO: BT

    [SINGAPORE] The surprising union of M1 and Simba Telecom has left StarHub behind its competitors, analysts said.

    The deal defied industry expectations of a StarHub-led consolidation, with Paul Chew from Phillip Securities noting that the market consensus was that M1 would be sold to StarHub.

    The merger will now cause StarHub to fall to third place in Singapore’s mobile market, noted Chris Muckensturm in a Bloomberg Intelligence report released on Monday (Aug 11).

    StarHubM1KeppelM&A

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