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“Keppel said on Monday (11 August 2025) it will sell M1’s telecoms operations for an enterprise value of S$1.43 billion, and retain the fast-growing information and communications technology business, which also includes data centres and subsea cables.
M1 and Simba are Singapore’s third- and fourth-largest mobile operators by market share, trailing Singapore Telecommunications and StarHub.
‘The proposed transaction offers a strategic path to sustainable growth for Singapore’s telco sector,’ Keppel CEO Loh Chin Hua said in a statement.
Keppel said the deal would benefit the industry and consumers by consolidating the market and unlocking synergies between two digitally driven operators.
Backed by state investor Temasek, Keppel said the divestment aligns with its strategy to operate an asset-light model, and will sharpen its focus on digital infrastructure within its connectivity segment.
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Loh said the proceeds can be used for Keppel’s growth opportunities and lower its debt or reward its shareholders. ‘This will not only improve the new Keppel’s ROE (return on equity) but also support the market’s further re-rating of Keppel,’ he added.
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Keppel said it hopes to complete the proposed transaction over the next few months, subject to regulatory approval.
DBS is the financial adviser to Keppel for the proposed deal, according to the announcement.
($1 = 1.2851 Singapore dollars)”
Reporting by Rishav Chatterjee and Yantoultra Ngui; Editing by Sherry Jacob-Phillips and Muralikumar Anantharaman, Singapore’s Keppel to sell M1 stake to Simba Telecom for a net $778 million, 𝘙𝘦𝘶𝘵𝘦𝘳𝘴, 11 August 2025, https://lnkd.in/gYejDSJp