LOCAL TELCO M1 LIKELY TO BE SOLD TO FOREIGN INVESTORS?

Dear A.S.S. Editor

Seems like based on news reports, local telco M1 is planning to sell their company, and so far, the bidders have all come in the shape of foreign investments. The telco is Singapore’s third largest carrier, and is currently owned by Axiata Group, Keppel Telecommunications & Transportation, and Singapore Press Holdings.

The proposed sale comes in the wake of a fourth mobile operator joining the market in Singapore. So what does this mean for M1? If the sale comes to fruition, will there still be an M1, or will it change into some other forms? And what about the users of M1, some of whom are M1 customers since day 1.

A local company that has been around for a long while, now looks set to be under the hands of foreign investors. That is the story of Singapore now, isn’t it? Locals slowly squeezed out, foreigners taking our places.

Andy Wang

A.S.S. Contributor

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