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SINGAPORE: Singtel is seeking clarification from regulators on whether it can participate in any further moves to consolidate Singapore’s telecommunications market, group chief executive officer Yuen Kuan Moon said on Thursday (May 21) after a planned merger between rivals M1 and Simba fell apart.<\/p>\n
\u201cIf we are able to participate in the consolidation, we will definitely evaluate where are the opportunities and how we would help lift the industry altogether in Singapore,\u201d he said.<\/p>\n
He was responding to questions about Singtel’s interest in acquiring M1 at a media conference following the release of Singtel\u2019s financial results for the full year that ended on Mar 31, 2026.<\/p>\n
Asked if there are any anti-trust concerns about Singtel’s interest in acquiring another telco given its Singapore market dominance, Mr Yuen said that such concerns should be directed towards competition regulators.\u00a0<\/p>\n
\u201cWe will definitely consider, but you should ask the regulator,\u201d he said.<\/p>\n
On Monday, the Infocomm Media Development Authority (IMDA) announced that it suspended the assessment of Simba\u2019s proposed acquisition of M1 after it uncovered a potential regulatory breach during its review process.<\/p>\n
IMDA is investigating whether Simba had been using radio frequency bands that were not assigned to it to provide mobile services.\u00a0<\/p>\n
Keppel, the parent company of M1, said it would allow the sale and purchase agreement with Simba to lapse on its deadline and seek new buyers, with its CEO Loh Chin Hua saying that the company is open to offers for the telco.<\/p>\n
He said Keppel continues to believe that the telco industry in Singapore is “in dire need of and will benefit from consolidation”.<\/p>\n
Echoing this on Thursday, Singtel Group CEO Yuen said that an environment with four telco operators is not sustainable and Singtel welcomes news of market consolidation.<\/p>\n
\u201cWe have always been actively seeking to participate in consolidation,\u201d he said, adding that Singtel was not able to participate in previous efforts, though he did not elaborate on the reasons.<\/p>\n
Singtel also announced on Thursday that it is open to working with potential partners to develop its Australian subsidiary Optus.<\/p>\n
The company said it \u201ccontemplates a like-minded long-term local partner owning a meaningful minority stake\u201d in Optus, but added that it is committed to Australia for the long term.<\/p>\n
Mr Yuen told reporters that Singtel typically looks for a local partner when investing in overseas operations.\u00a0<\/p>\n
\u201cIt\u2019s not a recent decision, it\u2019s just that there are always a lot of partners talking to us, we are just letting the market know that this is the case,\u201d he said.\u00a0<\/p>\n
Asked if there are any serious potential partners, he said the company will make an announcement if there are any material developments.<\/p>\n
Chief financial officer Arthur Lang said Singtel is making the disclosure because it is a listed company that has to comply with the Singapore Exchange\u2019s requirements.\u00a0<\/p>\n
\u201cJust to be very clear, it\u2019s not that we are close to signing any deal,\u201d he said.<\/p>\n
When asked if challenges in Australia had led Singtel to seek an Australian partner, Mr Yuen said they are separate issues.<\/p>\n
\u201cBut obviously \u2026 we want to find partners who can bring value,\u201d he said. \u201cWe want to make sure that it\u2019s Australian, because someone who knows the country is actually very important, and that\u2019s probably the only criteria that we\u2019re looking at.\u201d<\/p>\n<\/div>\n