TELECOM & INTERNET | Staff Reporter, Singapore

Keppel and SPH to buy all remaining shares of M1

The two firms will then proceed in delisting M1 from SGX.

Konnectivity, the joint venture company of Keppel and Singapore Press Holdings, will compulsorily acquire all the shares in M1 with $2.06 for each piece, according to a filing in SGX.

After doing so, Keppel and SPH will then proceed in delisting M1 from the stock exchange.

The announcement comes after Konnectivity has acquired 91.15% stock in M1. This has caused its free float to go under 10% of the free float requirement of SGX.

Also read: Keppel-SPH buyout could strengthen M1's MVNO position

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