Deal marks first telco merger in S'pore after years of liberalisation

Keppel will be selling the telecommunications business of its subsidiary M1 to rival Simba Telecom for $1.43 billion.

- Lee Li Ying

The deal marks the first consolidation in Singapore's telco history following years of liberalisation that saw the lowering of mobile broadband and fixed broadband prices.

In the 1990s, Singapore's telecoms industry was dominated by Singtel. Its monopoly status allowed it to grow into one of Singapore's largest corporations.

Setting its sights on becoming Asia's largest info-communications hub, the Singapore Government decided in 1996 to end Singtel's monopoly.

Singtel's licence to be the sole provider in Singapore's mobile services market was set to end in 1997, while its monopoly on fixed line and international direct dial (IDD) services, among others, was to end in 2007.