StarHub holds talks with Keppel over potential M1 deal
“There is no certainty or assurance” that any M1 deal will materialise, said Starhub and Keppel.
A Starhub shop and an M1 shop at Causeway Point in Woodlands, Singapore, on Aug 19, 2025. (File photos: CNA/Ooi Boon Keong)
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SINGAPORE: StarHub and Keppel confirmed on Wednesday (Sep 23) that they are in talks over a potential deal involving telecommunications company M1, months after a proposed acquisition of M1 by rival Simba fell through.
In separate bourse filings, both companies said discussions were ongoing, but added there was no certainty that any transaction will materialise.
StarHub said it was in discussions with Keppel “regarding a possible transaction in relation to M1 Limited”.
“There is no certainty or assurance whatsoever that these discussions will progress beyond the current stage or that any transaction in respect of M1 Limited will arise,” it added.
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Keppel, which is M1’s parent company, similarly confirmed the discussions, saying that nothing definitive had been reached.
The company said it continued to explore consolidation opportunities involving the telco as it believes consolidation is “needed for Singapore’s telco sector”.
“In the meantime, the company is focused on strengthening M1’s performance to maximise its strategic value in any future industry consolidation,” Keppel said.
The statements were issued in response to a Business Times report on Wednesday that said StarHub was in advanced talks with Keppel over an M1 deal.
A S$1.43 billion (US$1.12 billion) bid by telco Simba to acquire M1 was scuppered earlier this year after the Infocomm Media Development Authority (IMDA) suspended its assessment of the proposed acquisition over a potential regulatory breach.
IMDA had been investigating whether Simba had used radio frequency bands that were not assigned to it to provide mobile services.
Separately, in August 2025, StarHub acquired MyRepublic’s broadband business for S$105 million.
Source: CNA/rk(gr)
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