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Singapore IMDA Suspends Simba's S$1.43 Billion M1 Acquisition on May 18 Over Spectrum Violations

GateNews

According to CNA, Singapore’s IMDA suspended its review of Simba, owned by Australian company Tuas, acquiring M1 from Keppel for S$1.43 billion (US$1.12 billion) on May 18 after discovering possible unauthorized use of unassigned radio frequency bands. IMDA stated the conduct may breach the Telecommunications Act and Simba’s operating license, findings that could affect whether the deal harms competition or raises public interest concerns.

Keppel, which owns M1, said it will allow the sale agreement to expire on May 21 and activate a backup plan to maintain majority ownership while implementing cost cuts and operational improvements at the telecom business.

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