SINGAPORE (July 18): M1 posts a 20.8% decline in net profit to $32.5 million for the second quarter ended June, from $41.0 million in the corresponding quarter last year.

In separate filings on Tuesday night, the three biggest shareholders of M1 – Singapore Press Holdings (SPH), Keppel Telecommunications & Transportation (Keppel T&T), and Malaysian telco Axiata Group Berhad – announced that they have decided not to proceed further with their strategic review to dispose of their respective stakes in M1.

The majority shareholders say they have taken into consideration the proposals from interested parties, which despite a favourable level of interest, have not met their determined minimum criteria and parameters.

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