SINGAPORE: MyRepublic Ltd, the Singapore Internet provider backed by billionaire Xavier Niel, is seeking a private-equity partner as it bids for local wireless carrier M1 Ltd, according to people with knowledge of the matter.
MyRepublic, which last year unsuccessfully bid for Singapore’s fourth mobile operator license, had been approaching buyout firms about helping finance its planned offer for M1, the people said, asking not to be identified because the process is private. M1 shares have risen 14% this year, giving the company a market value of about S$2.1bil (US$1.5bil).
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