Keppel’s $1.1 Billion M1 Telco Sale to Tuas Stalled by Regulator

Singapore’s regulator has suspended its assessment of Keppel Ltd.’s planned S$1.4 billion ($1.1 billion) sale of one of the city-state’s major telecommunication providers M1 Ltd., throwing into doubt a key transaction by the conglomerate-turned-asset manager.

The Infocomm Media Development Authority said Monday it had paused its review of the proposed combination of M1 and Simba Telecom Pte., a unit of Australia-listed Tuas Ltd., after learning Simba may have used radio frequency bands that were not assigned to it to provide mobile services.