Circles.Life’s parent company sues M1 over mobile virtual network arrangements

Liberty Wireless also alleges that the 2019 contract may contain an error and/or mistake, and that the company will seek to rectify the contract if necessary.

Keppel said in a statement to CNA that M1 has instructed counsel and “does not find the allegations meritorious, and intends to vigorously defend its position at the appropriate forum”.

The lawsuit is not expected to affect or delay the purchase of M1 by Simba Telecom, Keppel said.

Keppel’s wholly owned subsidiary Keppel Konnect had entered into a sale and purchase agreement with Simba Telecom as purchaser and Tuas Limited as guarantor on Aug 11.

This was for the sale of the entire issued share capital of M1.

The proposed transaction is pending the fulfilment or waiver of various conditions as agreed between the parties, including regulatory approval by IMDA.

“Based on information available and assessment of the allegations made, the vendors do not expect the outcome of the legal proceedings to adversely affect or delay the completion of the proposed transaction,” said Keppel.

In response to queries from CNA, a spokesperson from Circles.Life said it was unable to provide further comment as the matter is currently before the courts.

“We want to reassure our customers and partners that this will not affect our day-to-day operations,” he said.