M1 on the acquisition trail, eyes possible iPhone deal

The chief executive of Singapore’s third largest telecoms company by subscribers, MobileOne (M1), says he is looking at overseas acquisitions to counteract stagnating revenues in its saturated domestic telecoms market. In an interview with Dow Jones Newswires yesterday, Neil Montefiore said: ‘We are in talks with two companies in Asia for an acquisition or an investment,’ although he stopped short of proving the names of the actual companies involved. In addition, the M1 supremo said he was in discussions with Apple to bring the iPhone to Asia.