Discussions on this matter is understood to be in early stages. Hence, there is no guaranteeing that a deal will surface from this.
Local telco operators StarHub (SGX:CC3
) and M1 are said to be back to exploring a potential merger of their businesses, according to TMT Finance, citing five sources familiar to the matter.
According to three sources, ST Telemedia-backed StarHub is working with a US bulge bracket bank to work on a potential merger, but it is unclear if Keppel-backed M1 is working with a bank on this. StarHub is 56.3% owned by various Temasek portfolios, including ST Telemedia and STT Communications, while M1 is also indirectly owned by Temasek, through Temasek’s 21.3% stake in Keppel.
