Photo credit: MyRepublic.
The news:
- Internet provider MyRepublic is looking for private equity backing to bid for Singaporean telco M1, reports Bloomberg.
- M1’s major stakeholders, Axiata Group, Keppel Telecommunications & Transportation, and Singapore Press Holdings, are considering offers for their stakes in the telco, having appointed Morgan Stanley to review their stakes.
- Warburg Pincus, Shanxi Meijin Energy, and China Broadband Capital reportedly also explored the possibility of making offers for the telco.
Why it matters:
- M1 is in third place in Singapore’s current three-telco market (with a fourth one about to come in this year). Flagging performance on various fronts has ignited talks of its majority shareholders accepting offers for their stakes.
- MyRepublic could have a way back into the Singapore telco race after losing the bid to become the city-state’s fourth telco last December. The winner was Australian company TPG Telecom.
- Although a small market, Singapore enjoys one of the world’s highest usage of mobile and broadband services, with 8.4 million 3G/4G subscribers and 4.3 million broadband internet subscribers in 2016, according to BMI Research.
Source: Bloomberg.
This post Brief: MyRepublic may be looking to bid for Singapore telco M1 appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/myrepublic-bid-m1
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