Australia’s Tuas Limited, the parent firm of Singapore telecommunication heavyweight Simba Telecom, has terminated the merger between Simba and M1.

In a Friday filing with the Australia Securities Exchange (ASX), Tuas stressed that the Long-Stop Date, the deadline by which all regulatory and other conditions had to be satisfied, was extended once, to May 21, but the deal then collapsed. Related parties were released and discharged from their respective obligations under the deal.

Tuas said the deal was announced in August 2025. Previously, Tuas’ Singapore subsidiary Simba Telecom was set to acquire share in M1, under Singaporean giant Keppel. The deal, valued at $1.43 billion ($1.12 billion) could have brought together two of four biggest telecom operators in Singapore.

The collapse followed a decision by Singapore’s Infocomm Media Development Authority (IMDA), which suspend the review of the merger.  The regulator said it has reviewed the proposed transaction under the Telecom and Media Competition Code, including whether the deal could significantly lessen competition or raise public interest concerns. The review also covered cybersecurity requirements linked to the operation of critical telecommunications infrastructure.

In its filing, Tuas said Simba would continue to cooperate with the investigation conducted by the IMDA. Simba would continue its business in the telecommunications market in Singapore, Tuas added.

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