M1 (formerly: MobileOne)

VERY OLD SPECULATION! 

Mon Sep 03, 2012 

M1, the smallest mobile operator here, has been included by CIMB on the list for potential privatisation, even though it has a relatively fragmented shareholding structure with the likes of Axiata (29.7%), Keppel T&T (19.7%) and SPH (13.9%) as significant shareholders. 

The telco, CIMB notes, has been generating strong free cash flow, as minimal capital expenditure is projected. 

Axiata, the international and mobile arm of Telekom Malaysia, is the likely acquirer.

Source: The Edge

A wild guess of mine, how about TPG? The combined stakes are high enough to trigger a GO?

Let's see

Yup sph did an announcement regarding the Bloomberg article.

Apparently the three of them are getting together to do a strategy review but no guarantee of anything else.

Trading halt request to be lifted as well.

And also the CFO was changed which means probably some corporate action in the works for M1

Sent from my MotoG3 using Tapatalk

If it is Axiata, they need at least US$ 585.72M
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Another SPECULATION in this news:-

Axiata said to seek buyers for US$700m of overseas holdings
13 Sep 2016 16:20

[KUALA LUMPUR ] Axiata Group Bhd, Malaysia's biggest mobile-phone operator, is seeking to trim stakes in some of its overseas operations in deals that could raise as much as US$700 million, people familiar with the matter said.

The Kuala Lumpur-based company is seeking a buyer for about 11 per cent of Indonesian unit PT XL Axiata, which has a market value of US$2.2 billion, according to the people.

It is also selling as much as 30 per cent each of listed Sri Lanka unit Dialog Axiata Plc and closely held Cambodian subsidiary Smart Axiata Co, the people said, asking not to be identified because the information is private.
...
BLOOMBERG

Source: Business Times Breaking News

What should be a fair price for M1?

(20-03-2017, 11:06 AM)swn Wrote: What should be a fair price for M1?

Some thoughts here

http://riskon.net/singapores-fourth-mobi...re-sector/

Given the continued pressure on profitability, historical multiples (or dividend yields) are not indicative of value in this case

Generally, Mr. Market is expecting the "buyer" is the Starhub(?). I am skeptical on the thought. A merger of Starhub and M1, is too high a stake, with their redundancy in fixed assets. The "buyer" is most likely from outside, IMHO

The valuation varies, depending on the scenario. Competition should be the key factor in the valuation, which is only clear after we know the "buyer".

Limited upside for M1, analysts say, amid talk of possible sale
22 Mar 2017 09:00
By Cai Haoxiang

AMID takeover speculation for telco M1, analysts continued to debate how much of a premium a potential buyer would pay. Valuations ranged widely from S$1.58 to S$2.74.

Some pointed out that the stock is unattractive due to stiff competition in Singapore's saturated telco scene. Others wondered if fellow competitor StarHub could merge with it.
Source: Business Times

Can't understand why would one want to takeover or privatize it considering it is a weak business. So not talking even about good premium. Upside is limited with 4th Telco, and M1 is wholly local market.

(22-03-2017, 11:30 AM)corydorus Wrote: Can't understand why would one want to takeover or privatize it considering it is a weak business. So not talking even about good premium. Upside is limited with 4th Telco, and M1 is wholly local market.

How about a buyer with global telco biz, M1 is just part of its global strategy? How about an "acquisition" which will eliminate the downside of 4th telco in Singapore?

I don't consider M1 biz is weak, with ROE 37%, and ROCE 20%, based on the latest 2016 AR.

(just wild speculation)

(22-03-2017, 12:06 PM)YMPL Wrote:

(22-03-2017, 11:30 AM)corydorus Wrote: Can't understand why would one want to takeover or privatize it considering it is a weak business. So not talking even about good premium. Upside is limited with 4th Telco, and M1 is wholly local market.

How about a buyer with global telco biz, M1 is just part of its global strategy? How about an "acquisition" which will eliminate the downside of 4th telco in Singapore?

I don't consider M1 biz is weak, with ROE 37%, and ROCE 20%, based on the latest 2016 AR.

(just wild speculation)

Well if we are paying the business just on it's equity, is good price surely. I should said "Weak" against the benefits it will get for it's valuation. So how much can retail investor able to extract from it maybe not so good.


I am in Wild speculation too