good at least he showed that he can find a job after politics unlike the other side that need some crutch from some GLC

Singtel is effectively blocked by regulators (IMDA and the CCCS) from acquiring M1 due to anti-trust laws and market concentration rules:   1. Massive Market Share Violation (Anti-Competition Code) Under Singapore's Telecom Competition Code, IMDA restricts mergers that create dominant positions or "substantially lessen competition."    * The Math: Singtel already holds roughly 45% to 50% of Singapore's mobile subscriber market and over 45% of fixed broadband.    * Combined Entity: Acquiring M1 (which holds ~20%) would give Singtel nearly 70% of the entire Singapore telecom market.    * The Impact: A single operator controlling two-thirds of the country's mobile and broadband lines would completely eliminate price competition, allowing Singtel to unilaterally set consumer prices.   2. Spectrum & Network Dominance  * Spectrum Allocation: IMDA caps the total amount of radio frequency spectrum (4G and 5G bands) a single telco can hold.    * Over-concentration: Combining Singtel’s and M1’s spectrum holdings would hoard crucial network capacity, making it impossible for remaining rivals (StarHub and SIMBA) to compete on equal technical footing.   3. StarHub is the Only Approved Consolidation Partner Regulators want Singapore to shift from 4 MNOs to 3 balanced incumbents (Singtel, StarHub-M1, and SIMBA):    * StarHub (22–25% market share) + M1 (20% market share) creates a combined ~42–45% player—forming a true challenger equal in size to Singtel.    * Singtel + M1 creates a massive monopoly, leaving StarHub and SIMBA too small to survive. Singtel CEO Yuen Kuan Moon publicly sought clarification on whether Singtel could participate in domestic consolidation following the SIMBA deal collapse, but market analysts and legal experts agree IMDA would never allow Singtel to absorb its closest rival.

That is essentially what it has come down to.   Keppel is effectively running a fire-sale for M1's consumer telco business:    * No Choice But to Sell: After SIMBA’s S$1.43 billion offer collapsed due to IMDA regulatory scrutiny, Keppel lost its primary cash buyer.    * Leverage Shifted to StarHub: StarHub is the only viable buyer left standing in Singapore. Because Singtel is blocked by anti-trust rules, StarHub holds all the cards and can dictate the price.    * Valuation Cut: Analysts at DBS and Citi expect the transaction Enterprise Value (EV) to be slashed down to around S1.00B – S1.02B (a steep discount from SIMBA's legacy benchmark).    * Carving Out the Good Bits: Keppel is stripping out and keeping M1's high-margin Enterprise ICT, data centers, and subsea cables, while dumping the margin-compressed consumer mobile and broadband business onto StarHub. Keppel is eager to offload the consumer division to avoid taking further write-downs from Singapore's brutal price wars.

Heavy discount for m1 to sell.   

if simba cannot buy and starhub can, what does it show