SINGAPORE Press Holdings (SPH), together with Keppel Corp, will be making a pre-conditional voluntary general offer of S$2.06 per share for the remaining M1 shares they do not own, valuing Singapore’s third largest mobile operator at S$1.9 billion.

The purchase offer will be made through joint venture company, Konnectivity Pte Ltd, which is majority owned by Keppel.

Will AXIATA group counter offer ?