Singapore-based telecommunications StarHub is in discussions with conglomerate Keppel over a possible transaction involving M1, Singapore’s third-largest telecommunications operator.

StarHub made the confirmation in a filing with the Singapore Exchange (SGX), dated September 23. The talks are preliminary, with no certainty of an agreement, StarHub said.

M1 is Singapore’s third-largest mobile operator and is controlled by Keppel, a Singapore conglomerate that took the telco private in 2019. StarHub is the country’s second-largest operator, behind Singtel.

A combination of StarHub and M1 would be the first major consolidation among Singapore’s mobile carriers.

The talks follow the collapse earlier in 2026 of a proposed sale of M1’s telecom business to Simba for about S$1.43 ($1.12 billion). That deal stalled after the Singapore’s Infocomm Media Development Authority suspended its review amid an investigation into Simba.

A StarHub–M1 tie-up would bring together two companies linked to Temasek, Singapore’s state investment firm and a controlling shareholder of both StarHub and Keppel.

Singapore suspends review of proposed $1.1B M1-Simba telco consolidation