SINGAPORE (July 19): M1’s share price has shed 14 cents or some 7% to $1.96 this morning.
The drop follows last night’s announcement that its majority shareholders – Axiata Group, Singapore Press Holdings (SPH) and Keppel Telecommunications & Transportation (Keppel T&T) – have decided not to proceed with their strategic review to dispose of their stakes in the local telco.
See: M1 2Q earnings falls 21% to $32.5 mil; majority shareholders abandon stake sale
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