TeleGeography Logo

If it doesn’t Mufasa, Simba could be ‘acquisition target’ in 2023

7 Dec 2022

Singapore’s fourth mobile network operator (MNO) Simba Telecom (formerly TPG Mobile) could become the focus of industry consolidation in the near future, according to Sachin Mittal, an analyst with Singaporean multinational banking and financial services corporation, DBS Group. The Edge Singapore quotes Mittal as saying that Simba Telecom could become ‘an acquisition target in 2023 as its cash flow may remain negative for another few years due to the 5G CAPEX cycle’. He went on to suggest that whilst Simba is likely to achieve EBITDA breakeven over the next twelve to 18 months, it is also likely to be a target for takeover ‘primarily because the 5G CAPEX requirement and cycle will be an enormous challenge for Simba to achieve positive free cash flow,’ while adding ‘Simba could be acquired by other telcos to enhance the competition in the lower end coupled with the possibility of improving the price points at the lower end.’

Singapore, Simba Telecom (formerly TPG Mobile)

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.