Shareholders of Singapore operator M1 announced that they are considering again a possible sale of their shares. The announcement was made by Keppel, which holds 19.3 percent of M1. Keppel said Singapore Press Holdings, which owns 13.5 percent of M1, was also considering participating in the transaction with M1 shares.
Malaysia-based Axiata Group, which owns 28.7 percent of M1, announced it is considering appropriate options to enhance shareholders’ value in response to KCL and SPH’s announcements.
Keppel and Axiata had in 2017 announced that they were undertaking a strategic review of the stake in M1 jointly owned with SPH. Following the review, Axiata said it had deliberated with both companies where it made its position clear regarding any corporate action. Keppel and SPH’s announcements now may reflect developments from the 2017 strategic review and post discussion, which has resulted in Axiata not being an active participant in the new corporate exercise, the Malaysian company said.
Keppel also announced that it is concurrently considering a transaction involving its interest in Keppel Telecommunications & Transportation. This could also lead to a sale of the shares, but no such deal is a certainty.
