September 27, 2018 / 1:43 AM / 24 days ago

Keppel, SPH offer to buy rest of Singapore telco M1

SINGAPORE, Sept 27 (Reuters) - Keppel Corp Ltd and Singapore Press Holdings Ltd (SPH) said on Thursday that they have offered to buy the remaining shares in Singaporean telecom operator M1 Ltd that they do not already own.

The companies, through a special purpose vehicle, have offered to pay S$2.06 per M1 share, a premium of 26 percent to the stock’s last closing price, the two said in filings to the stock exchange.

The companies and their related parties have a deemed interest of 33.27 percent in M1.

Malaysia’s Axiata Group Bhd is the largest shareholder in M1, Singapore’s smallest mobile network operator, with a 28.3 percent stake.

Separately, Keppel said it was seeking to privatise Keppel Telecommunications & Transportation Ltd for S$1.91 per share. (Reporting by Aradhana Aravindan; Editing by Sunil Nair)

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