Circles.Life flags consumer risks in proposed M1–Simba merger

share on

twitter /
facebook /
linkedin /
- email
- telegram
- whatsapp
- wechat
- pinterest
- line
- snapchat
- reddit

Circles.Life has voiced concerns over the proposed merger between M1 and Simba Telecom, cautioning that the deal could harm consumers if regulatory safeguards are not properly enforced.

On 7 November, Circles.Life submitted its formal input to the Infocomm Media Development Authority (IMDA) as part of the public consultation process. As Singapore’s largest mobile virtual network operator (MVNO), the telco highlighted the merged entity’s potential market power, noting it would control 77% of the wholesale market and hold more than 38% of the postpaid retail market.

The submission drew on Circles.Life’s years of operational experience under Singapore’s MVNO wholesale access framework and stressed that the regulator must act to preserve competition. The company warned that without adequate protections, consumers could suffer and urged IMDA to enforce the wholesale framework across all MVNO contracts with the merged entity.

Don't miss: StarHub concludes media pitch

Circles.Life added that it is confident IMDA will safeguard innovation, fairness, and choice for Singaporean consumers, noting that ensuring fair wholesale access is key to maintaining a balanced and open telecom ecosystem.

The merger stems from Keppel Ltd’s plan to divest M1’s telco business to Australian-backed Simba Telecom for S$1.43 billion in an all-cash deal. Keppel will retain M1’s ICT business, which supports its broader connectivity portfolio spanning data centres and subsea cables.

The deal is expected to reshape Singapore’s telco sector by combining two agile, digitally driven players. Keppel said the tie-up would create a “nimble and competitive digital-first telco” to strengthen Singapore’s digital economy and advance 5G rollout.

Keppel CEO Loh Chin Hua said the transaction offers “a strategic path to sustainable growth” for Singapore’s telco sector, enabling both players to scale efficiently and optimise infrastructure investments.

If approved, the merger would mark one of the most significant shifts in Singapore’s telco landscape in recent years, following the entry of new players such as TPG (now Simba) in 2016 and the incumbents’ ongoing expansion into 5G and digital services.

In a related development, Circles.Life’s parent company Liberty Wireless has filed a lawsuit against M1 over an alleged refusal to negotiate amendments to a 2019 mobile virtual network contract.

In a filing on the Singapore Exchange on 13 October, Keppel — which owns M1 — said Liberty Wireless had commenced a High Court action claiming that M1 failed to enter good faith negotiations to align the contract with IMDA’s wholesale framework for mobile services introduced in 2020. Liberty Wireless is seeking a court declaration requiring M1 to begin negotiations within 14 days and may also pursue rectification of the contract if any errors are identified.

share on