Keppel to sell M1 unit’s telco business to competitor Simba

FILE PHOTO: A Keppel signage is pictured in their office in Singapore July 6, 2023. REUTERS/Edgar Su/FIle Photo

SINGAPORE: Asset manager and operator Keppel says it is selling the telecom business of its subsidiary M1 to rival Simba Telecom.

The deal has an enterprise value, which includes cash and debts, of S$1.43bil, subject to post-completion adjustments.