Overview
- Tuas announced on May 22 that its sale-and-purchase agreement to buy Keppel’s M1 has been terminated after conditions were not met by the long stop date, releasing both parties from further obligations.
- The Infocomm Media Development Authority is investigating whether Simba used radio frequencies not assigned to it, which IMDA says would breach the Telecommunications Act and could attract fines of S$1 million or up to 10% of turnover.
- Tuas said Simba is cooperating with IMDA’s probe and will continue to operate in Singapore while the investigation and any regulatory decisions proceed.
- Keppel allowed the deal to lapse and has taken M1 back under its control, announcing short-term cost and efficiency measures that may include deeper cuts and accelerated automation.
- Singtel has told regulators it seeks clarity on whether it may pursue consolidation, a decision that will depend on IMDA’s findings and on how spectrum and licence compliance issues are resolved.