This move comes amidst long-running speculation that Keppel, as part of its overall bid to actively recycle its assets, might sell privately-held M1, which in turn, fits into an ongoing consolidation trend among regional telcos as they repair mobile markets previously hurt by intense competition.
An impending payment for spectrum usage rights by M1 might help frame the possible consolidation of the telco sector to take place by this coming June, says Foo Zhiwei of Macquarie Securities in his Nov 5 report.
In a response to Foo's question at M1 parent Keppel's 3QFY2024 briefing on Oct 24, M1's CEO Manjot Singh Mann says that a spectrum payment of some $188 million initially due this month can be deferred to next June.
