TELECOM & INTERNET | Staff Reporter, Singapore

Keppel T&T could ditch its 19% stake in M1

The possible sale would enable Keppel T&T to recoup $380m capital.

Keppel Telecommunications and Transportation is said to undertake a strategic review of their shareholdings of Singapore telco M1.

According to CIMB, Keppel T&T has a 19% of stake in the telco.

"The move makes sense to us as the M1 stake is deemed a non-core investment for Keppel T&T," the brokerage firm said.

A possible divestment of the M1 stake would enable the group to recoup $380m in capital based on M1’s current price of $2.12. It can also deploy the proceeds to its higher-return core businesses such as data centre and logistics.

Photo grabbed from Keppel T&T's site.

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