Simba Telecom Pte. Ltd. × Keppel Ltd.
On August 11, 2025, Keppel announced it had entered a definitive agreement to sell the telco business of its subsidiary M1 to Simba Telecom for an enterprise value of S$1.43 billion. [37, 40, 44] The deal would consolidate Singapore's third and fourth-largest mobile operators, creating a stronger competitor to Singtel and StarHub. [59, 64] However, in May 2026, Singapore's IMDA regulator halted its assessment of the deal pending an investigation into Simba's potential unauthorized use of spectrum, stalling the transaction's completion. [66]
The asset
The core telecommunications business of M1, including its mobile and fixed broadband customer base. [37, 44, 64]
- 2M mobile customers
- 200k fixed broadband households
The record
- Seller status
- Going concern
- Sector
- telecommunications
- Modalities
- customer PII, customer accounts, network operations
- Jurisdiction
- SG
What it means if you hold data
This deal signals a significant consolidation in a mature and competitive telecom market, driven by the need for scale to fund 5G investments. The subsequent regulatory halt highlights the complexities of telecom M&A, where operational compliance can derail major strategic transactions.