Telekom Malaysia may buy M1 stake

According to Dow Jones Newswires Telekom Malaysia™ is in negotiations to acquire a stake in Singaporean wireless operator MobileOne (M1). Although both companies have declined to confirm or deny the rumours, analysts speculate that TM could pay SGD1 billion for a stake of between 26% and 29% in M1, buying shares from Keppel Telecommunications and Transport, SPH Multimedia and Great Eastern Holdings which together have a 40% stake.