Keppel Limited (KPELF.PK,KPELY.PK,BN4.SI), a Singaporean asset manager, said on Friday that it has terminated the sale of M1 Limited following a regulatory hurdle.
The company said: "Relating to obtaining the relevant approvals from Infocomm Media Development Authority of Singapore, was not fulfilled by the Extended Long-Stop Date, the SPA has terminated and ceased to have effect as between the parties to the SPA. Accordingly, the proposed transaction has terminated."
Earlier, Singapore's Infocomm Media Development Authority had suspended its assessment of the proposed consolidation between M1 Limited and Simba Telecom Pte. Ltd.
The termination of the proposed deal is not expected to have any immediate material financial impact on the company.
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