Singapore Halts Keppel's S$1.4 Billion M1 Sale to Tuas Over Simba Spectrum Use
Updated
Updated · Bloomberg · May 18
Singapore Halts Keppel's S$1.4 Billion M1 Sale to Tuas Over Simba Spectrum Use
1 articles · Updated · Bloomberg · May 18
Singapore’s Infocomm Media Development Authority paused its review of Keppel Ltd.’s planned S$1.4 billion sale of M1 Ltd. to Tuas, putting the telecom deal in doubt.
The regulator said it stopped the assessment after learning Simba Telecom, a Tuas unit, may have used radio frequency bands not assigned to it to provide mobile services.
The suspended review centers on the proposed combination of M1 with Simba, a key step in Tuas’s effort to acquire one of Singapore’s major telecom operators.
For Keppel, the setback clouds a significant disposal by the conglomerate-turned-asset manager, with the transaction valued at about $1.1 billion.
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