SINGAPORE (Nov 5): CGS-CIMB Securities is downgrading M1 to “hold” with an unchanged target price of $2.06 on expectations the Voluntary General Offer (VGO) will go through and that Axiata is unlikely to make a counter-bid at a much higher price.

As at 1.31pm, shares in M1 are trading 1 cent lower at $2.10.

“Other shareholders will accept the VGO, says Foong, as M1’s share price will likely drop if the VGO is called off,” says CGS-CIMB analyst Foong Choong Chen in a Nov 2 report.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook