Tuas terminates 1.12 billion dollar deal for Keppel M1
Tuas has terminated its agreement to purchase Keppel's stake in M1 following a regulatory investigation into Simba Telecom's radio frequency usage. The Infocomm Media Development Authority is currently probing potential breaches of the Telecommunications Act.
Xurve View
Insights:
Xurve View
Simba Telecoms terminated its S$1.43 billion acquisition of a majority stake in M1 from Keppel on Friday. The deal collapse follows a regulatory probe into Simba's unauthorized use of radio frequency bands. The termination wipes out a S$1 billion cash inflow for Keppel and leaves M1's ownership status uncertain.
