SPH, partners end review of M1 stakes

Singapore

SHARES in Singapore Press Holdings (SPH) closed below S$3 on Tuesday for the first time in eight years, slipping 2.6 per cent or eight Singapore cents to S$2.95.

The decline, its second straight negative session, came before the media and property group said in an after-market announcement that it was no longer considering strategic options for its substantial stake in the telco M1. It also followed SPH's report last Friday of a 45 per cent decline in its third-quarter net profit.