31 May '17, 6am

Singapore's MyRepublic Seeking Private-Equity Backing for M1 Bid, Sources Say - Bloomberg

MyRepublic Ltd. , the Singapore internet provider backed by billionaire Xavier Niel, is seeking a private-equity partner as it bids for local wireless carrier M1 Ltd. , according to people with knowledge of the matter. MyRepublic, which last year unsuccessfully bid for Singapore’s fourth mobile operator license, has been approaching buyout firms about helping finance its planned offer for M1, the people said, asking not to be identified because the process is private. M1 shares have risen 15 percent this year, giving the company a market value of about S$2.1 billion ($1.5 billion). Warburg Pincus had earlier expressed interest in M1, though the private equity firm is no longer pursuing a deal, the people said. Chinese coal miner Shanxi Meijin Energy Co. and China Broadband Capital also submitted first-round offers for Singapore’s third-largest carrier, people with knowledg...

Full article: https://www.bloomberg.com/news/articles/2017-05-31/myrepu...

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