Singapore’s Keppel Divesting S$1.4 Billion M1 Telco at Loss

Singapore’s Keppel Divesting S$1.4 Billion M1 Telco at Loss

Singapore’s Keppel Ltd. is looking to divest its interest in one of the country’s major telecommunication providers for an estimated S$222 million ($173 million) accounting loss, as it seeks to ramp up a drive to offload legacy assets.

Australian billionaire David Teoh’s Simba Telecom to buy Singapore’s M1 in deal valued at $1.1 billion

Simba Telecom—a unit of billionaire David Teoh’s Australia-listed Tuas Ltd.—is buying M1 in a deal valuing the Singapore-based mobile carrier at S$1.4 billion ($1.1 billion). Keppel, which founded mobile carrier M1 in 1994, is selling the telco business to Simba Telecom in deal valued at $1.1 billion (Keppel) Keppel has agreed to sell its 83.9% stake in M1 to Singapore-based mobile operator Simba for cash proceeds of close to S$1 billion, the co…