SINGAPORE, March 17 Singapore telecom firm M1
Ltd's three biggest shareholders are evaluating
selling their combined stakes worth more than S$1.14 billion
($813.5 million) in the company, a source aware of the matter
said on Friday, as the firm called for a trading halt.
Keppel Telecommunications & Transportation Ltd and
Singapore Press Holdings, which together own just over
32 percent in M1, are gauging interest for their stakes, the
source said, adding that the process is in an early stage.
Malaysian telecom firm Axiata Group, the biggest
shareholder in M1 with a stake of just over 28 percent, is also
evaluating selling its stake, said the source, who was not
authorised to speak to the media.
M1 has a market value of over S$1.91 billion.
Keppel and Singapore Press Holdings, whose shares were
halted for trading, had no immediate comment. There was no
immediate response from Axiata to an email from Reuters.
M1's shares jumped nearly 8 percent ahead of the trading
($1 = 1.4014 Singapore dollars)
(Reporting by Anshuman Daga; Additional reporting by Aradhana
Aravindan; Editing by Muralikumar Anantharaman)