In a bold move on August 11, 2025, Simba Telecom, the rising star under Tuas Ltd, announced its plan to snap up M1’s telecom business for a cool S$1.43 billion. This game-changer catapults Simba from the fourth spot to become Singapore’s No. 2 mobile operator, shaking up the telecom scene like never before.  

But that's not all—StarHub is making waves too, with its acquisition of MyRepublic's broadband business, signaling a fierce race for supremacy in the connectivity world. With Keppel holding onto M1’s ICT arm, including those all-important data centers and subsea cables, the telecom industry in Singapore is buzzing with excitement and anticipation.

The real impact

1. A Turning Point for the Industry
This isn’t just another merger—it could signal the end of Singapore’s long and bruising price war. Instead of competing purely on cost, scale and innovation will decide the winners. The battle could and should shift from “how cheap can you go?”.  

2. Simba Customers: The Likely Winners
While changes won’t happen overnight, Simba’s customers stand to gain positively from this merger. Expect better coverage, more resilient service, and greater capacity in high-demand urban areas.  

3. Fixed Broadband Gets Real
Simba’s broadband base is tiny—about 14,000 subscribers. M1 brings 223,000 fibre customers into the fold, instantly making Simba a serious fixed-line competitor and positioning it as a converged telco.

4. M1’s New Journey
For M1, selling the telco business is a strategic reset. Without the heavy lift of running a network, it can focus on higher-margin, less capital-intensive areas: cloud, IoT, cybersecurity, and enterprise digital solutions. Done right, M1 could rebrand itself as a nimble regional ICT solutions provider.

5. Debt Leverage—A Watch Point
The deal is funded through a S$1.1 billion debt facility and A$416 million equity raise (~S$348 million). That puts pro-forma net debt/EBITDA at about 4×—high, but management says synergies and disciplined operations should bring it down quickly.

6. The Surprise Factor
Analysts were caught off guard. Many expected M1’s next partner to be StarHub, not Simba. This unexpected pairing changes market dynamics and could force rivals to rethink their strategies.

This landmark deal feels like hitting the reset button for Singapore's telecom industry. After years of relentless price wars, the focus is shifting towards delivering real value, smart innovation, and top-notch customer experiences. For Simba, it's a giant leap forward; for M1, it's the start of a fresh chapter; and for the rest of the market, it's a wake-up call. If all goes well, the true winners will be the millions of customers who've been caught in the middle. We're on the brink of a more dynamic, resilient, and thrilling era for Singapore's telecoms.

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