StarHub has no plans to buy M1: report

telecomasia.net

Despite speculation, Singapore operator StarHub has no intention of acquiring or merging with struggling rival M1, according to reports.

The Business Times cites a Maybank Kim Eng Research report as stating that StarHub's management does not plan to acquire M1, Singapore's smallest major operator whose major shareholders recently revealed are conducting strategic reviews of their ownership.

But the research report noted that it will be up to StarHub's majority owner ST Telemedia to decide whether to pursue a purchase or merger.

ST Telemedia owns 56% of StarHub, and is itself wholly owned by Singapore state investment company Temasek Holdings.

But even if ST Telemedia is interested in a deal, the report notes that Singapore's regulator is not likely to permit a deal that would result in spectrum holding even if it would allow another operator to acquire M1.

Maybank Kim Eng has maintained a sell rating for StarHub shares due to what it says are structurally poorer margins.

StarHub has separately recently announced the appointment of a new chief for its enterprise business group – former Integrated Health Information Systems CEO Chong Yoke Sin.

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