Valued asset: People shopping for handsets at an M1 mobile shop in Singapore. M1’s largest owners - Axiata Group Bhd, Keppel Telecommunications & Transportation Ltd and Singapore Press Holdings Ltd appointed Morgan Stanley to help explore options including a sale of the telecom operator, according to March filings. – Reuters
HONG KONG: A coal producer based in China’s Shanxi province and China Broadband Capital are among bidders for US$1.4bil Singapore wireless carrier M1 Ltd, according to people with knowledge of the matter.
Shanxi Meijin Energy Co and China Broadband have separately submitted first-round offers, said the people, who asked not to be identified because the discussions are confidential. Bahrain Telecommunications Co and private equity funds have also made non-binding bids, the people said.
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