M1’s three big shareholders start stake reviews They hold a total of 61.1% shares in M1. M1 Ltd announced that its three substantial shareholders – Keppel Telecommunications & Transportation (KPTT), Axiata Group (Axiata) and Singapore Press Holdings (SPH) are working with a financial adviser to conduct a strategic review of their respective 28.5%, 19.2% and 13.4% stakes in M1. According to OCBC, KPTT and SPH announced the same day to confirm their undertaking of a strategic review of their respective stakes in M1, but the three Singapore-listed companies clarified in their announcements that there is no assurance any transaction will materialise from such review and will make further announcements if there are any material developments.

Will Axiata, Temasek or some other consortium buy over the 61% of the shares? M1 share price shot up to $2.29 and is stable at around S$2.20 per share on 20 March 2017.

By Harry