Over the past three months, speculation that the potential bidders might fail to raise the required funding have pushed the share prices of Singtel, StarHub and M1 up by 4% to 11%. But news of the applications is already negatively impacting stocks of the three telcos with shares of SingTel, M1 and StarHub trending lower although submission of the Expression of Interest documents is no guarantee of the parties’ eligibility to bid.
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