3 days ago
StarHub seals S$105m MyRepublic buyout as Keppel strikes S$1.43b M1 deal with Simba in telco shake-up
SINGAPORE, Aug 12 — Singapore's telecommunications sector is seeing a fresh wave of consolidation, with StarHub completing its S$105.2 million (RM345 million) purchase of MyRepublic's broadband business just a day after Keppel announced plans to sell M1's telecom operations to Simba Telecom for S$1.43 billion.
According to a report published in CNA, StarHub, which already owned 50.1 per cent of MyRepublic Broadband, has bought the remaining 49.9 per cent stake along with the MyRepublic brand in Singapore and key operational assets.
The deal comprises S$94.3 million for shares and S$10.9 million for assets, according to a Singapore Exchange filing.
'This isn't just an acquisition. It's an acceleration,' said StarHub chief executive Nikhil Eapen, adding that full ownership will allow the company to 'move faster, go further' in a consolidating broadband market where scale, quality and resilience are increasingly important.
The telco said there are no immediate plans for restructuring or changes to existing services.
MyRepublic said its mobile operations in Singapore and New Zealand, and its digital platform arm, will continue as usual.
On Monday, Keppel said it would sell its 83.9 per cent stake in M1's telecom business to Simba — owned by Australia-listed Tuas — while retaining M1's ICT operations, including data centres and subsea cables.
Keppel will receive S$1 billion in cash proceeds from the sale, which CEO Loh Chin Hua called 'a strategic path to sustainable growth' for the sector.
Simba currently holds 14.4 per cent of Singapore's postpaid mobile market and less than 1 per cent of broadband, while M1 has 23.9 per cent and 15 per cent respectively.
The combined entity aims to expand its mobile and broadband footprint, accelerate 5G rollout, and strengthen its enterprise platform.
Both transactions require approval from the Infocomm Media Development Authority, which said it will assess the deals to ensure they support competition, benefit consumers and promote sustainable growth.
