In Keppel’s analyst briefing in October 2019, it said: “M1’s privatisation was an opportunity to turn around a business that Keppel knows well.”
In 1997, M1 entered Singapore’s telecom scene, breaking the decades-long monopoly Singapore Telecommunications (SGX:Z74
) (Singtel) held and becoming the first alternative option in local telco history.
M1 was listed in 2002 before being delisted in 2019. In September 2018 when the intention to privatise M1 was announced, the majority of shareholders, Keppel and what was then Singapore Press Holdings (SPH), said the privatisation was to “arrest the decline in M1 shareholder value through transformational efforts”.
