China coal miner said to vie for M1

SINGAPORE (April 27): A coal producer based in China’s Shanxi province and China Broadband Capital are among bidders for US$1.4 billion ($2 billion) Singapore wireless carrier M1, according to people with knowledge of the matter.

Shanxi Meijin Energy Co. and China Broadband have separately submitted first-round offers, said the people, who asked not to be identified because the discussions are confidential. Bahrain Telecommunications Co. and private equity funds have also made non-binding bids, the people said.

The potential sale of Singapore’s third-largest carrier comes as the city-state prepares for the roll-out of a fourth mobile operator, with TPG Telecom slated to begin wireless services in 2018. The regulator has said it wants to introduce more competition in Singapore to bring down phone bills and improve services.

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