Tuas Ltd Terminates Sale of M1 Limited Shares
Key points
- Tuas Ltd terminated the Sale and Purchase Agreement for M1 Limited
- Agreement terminated due to unmet conditions precedent
- Investigation into potential breaches of Telecommunications Act ongoing
- Simba continues operations in Singapore telecommunications market
Full summary
Tuas Limited, through its subsidiary Simba Telecom Pte Ltd, announced the termination of the Sale and Purchase Agreement for M1 Limited, which was to be completed by 21 May 2026. The agreement was terminated because several conditions precedent were not fulfilled by the deadline. Simba is cooperating with the Infocomm Media Development Authority's investigation into potential breaches of the Telecommunications Act and the conditions of its Facilities-Based Operator Licence. Despite the termination, Simba continues to operate its business in the Singapore telecommunications market with leading plans and products.
Guidance
No high-importance, price-sensitive financial metrics provided
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