On May 18, regulator IMDA, which was reviewing this deal, announced it is instead investigating Simba for allegedly using frequency spectrum it was not assigned to - deemed a potential breach of law.
Lim Siew Khee and Meghana Kande of CGS International have downgraded Keppel from "add" to "hold", following news that the sale of M1 to Simba has fallen through, putting a brake on the company's divestment moves, plus potentially lower dividend payout.
From a previous target price of $13.52, they've cut their target price to $11.50.
