This comes after the telco’s major shareholders – Axiata, Keppel T&T and Singapore Press Holdings (SPH) – recently concluded their strategic review on the divestment of their stakes in the company without reaching a consensus on selecting the preferred bidder.
SINGAPORE (Aug 18): UOB Kay Hian has resumed coverage on M1, Singapore’s smallest telco, with a “buy” rating and lower price of $1.98 compared to $2.52 previously, assuming that M1 and StarHub will embark on network sharing now that negotiations have resumed.
Should network sharing with StarHub fail to materialise, UOB’s target price would drop to $1.55.
