Comprehensive M&A data with integrated detailed company information
‘M1 shareholders mulling stake sales’
Posted on Monday, 20 March 2017 08:02
The three largest investors in Singaporean telecommunications player M1 are considering offloading their combined holdings in the firm, a person with knowledge of the matter told Reuters.
According to the source, who wished to remain anonymous as they are not authorised to speak to the media, the stakes are together worth over SGD 1.14 billion (USD 812.89 million).
The person cautioned that the process remains at an early stage, noting that Keppel Telecommunications & Transportation and Singapore Press Holdings, which own a combined 32.0 per cent of the business, are gauging interests in their holdings.
Axiata, owner of just over 28.0 per cent, is also mulling a divestment.
None of the parties involved have commented on the report at this time.
M1 was established in 1997 and now provides mobile and fixed services to a customer base numbering more than 2.00 million.
According to its website, the firm was the first operator to offer nationwide 4G service, as well as ultra high-speed fixed broadband and fixed voice services on the Next Generation Nationwide Broadband Network.
M1 posted operating revenue of SGD 1.06 billion for the year to the end of December 2016, down from the SGD 1.16 billion over the preceding 12 months.
The largest deal targeting a telecommunications company to have been announced worldwide in 2017 to date was worth USD 14.00 billion, according to Zephyr, the M&A database published by Bureau van Dijk, as Intelsat agreed to pick up a majority stake in UK-based WorldVu Satellites.
In all there have been 219 such transactions so far this year.
Intelsat was also involved in the second-placed deal, this time as a target, as it unveiled the terms of a USD 1.70 billion private placing of shares to Japanese banking giant Softbank.
Other companies in the sector to have been targeted in deals since the beginning of January include Hong Kong-based HKT Trust and HKT Ltd, Spanish player Telxius Telecom and US-headquartered Lumos Networks.
© Zephus Ltd