By Shawn Lim

Singapore Press Holdings (SPH) has confirmed it is in talks to gain majority control of Singapore-based telco M1.

The media conglomerate is part of a joint bid launched by marine offshore conglomerate Keppel Corporation, through a joint venture company named Konnectivity Pte Ltd, to take over the smallest telco in Singapore.

SPH currently has a 13.45% stake in M1 and is offering $2.06 per share for the remaining M1 shares they do not own. That means the telco is valued at $1.9 billion, according to broadsheet The Straits Times, which is owned by SPH.

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Source: The Drum