Keppel, SPH gain majority control in Singapore mobile operator M1

Keppel, SPH gain majority control in Singapore mobile operator M1

REUTERS/Samsul Said

Malaysia’s Axiata Group, the largest shareholder in Singapore mobile operator M1 Ltd, has accepted a bid from Singapore investors that valued M1 at S$1.9 billion ($1.4 billion).

In a statement late on Friday, the telecoms group said it would book an estimated gain of 126.5 million ringgit ($31 million) after selling its 28.7 percent stake in M1 for about 1.65 billion ringgit.

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