September 2025 top M&A deals in ASEAN markets
Insights
Singapore’s Keppel announced the sale of the telco operations of its subsidiary M1 Ltd to Simba Telecom Pte Ltd for an enterprise value of SGD 1.43bn (USD 1.1bn) in cash. Keppel, which owns an 83.9% stake in M1 via Keppel Konnect and Konnectivity, will retain M1’s fast-growing ICT segment to bolster its digital infrastructure portfolio. The sale aligns with Keppel’s asset-light strategy and proceeds will be used to reduce debt. Simba Telecom, a Tuas Ltd subsidiary, is Singapore’s fourth licensed mobile operator, known for competitive 4G/5G services.
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