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To: ms.smartest.person who wrote (993)	4/5/2001 8:46:49 PM
From: ms.smartest.person	of 2248

Mystery bidders in M1 talks By Sheila McNulty in Singapore Published: April 5 2001 16:19GMT \| Last Updated: April 5 2001 16:20GMT Speculation arose on Thursday that Telstra of Australia and Vodafone of the UK were seeking to acquire MobileOne (M1), which handles about a third of Singapore's mobile telephone market. Analysts singled out those providers after M1 shareholders said they were in talks that could lead to a sale. Without revealing the identity of the other parties, they said the talks "may result in the joint disposal of [our] shareholding". M1 is owned by SPH Multimedia, a subsidiary of Singapore Press Holdings; Keppel Telecoms, a subsidiary of Keppel Telecommunications and Transportation; and Great Eastern Telecommunications, which is 51 per cent owned by Cable and Wireless and 49 per cent owned by PCCW-HKT. M1, with 800,000 customers, is estimated to be worth up to S$3bn. It started business in April 1997 and reported profits of S$79.5m (US$30.6m) last year on sales of S$568m. Shareholders said they were "committed to fully supporting M1; M1 will continue to maintain its role in the development of Singapore's telecom market". ---- Great Eastern is being advised by Merrill Lynch, while SPH Multimedia and Keppel Telecoms are jointly advised by JP Morgan. news.ft.com

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