Singtel’s stock surged 6.49% today as Singtel is said to tap Bank of America for pursuit of Australia’s Amaysim.
According to Bloomberg, Singtel is moving ahead with examining a possible bid for wireless operator Amaysim Austrailia, people with knowledge of the matter said. This deal would mean that Amaysim would give Singtel access to the its 1.1 million mobile subscribers. Meanwhile, Amaysim shares jumped 19% – its biggest intraday gain in 2 years.
On the other hand, another competitor, TPG telecom is looking into a potential merger with Vodafone Hutchison Australia.With the impending entry of TPG, it is planning to launch a similar unlimited data plan in Singapore.
However, a UOB Kay Hian analyst has weighed the possibilities of what could happen if TPG were to launch a similar unlimited data plan in Singapore. TPG will provide data-only packages and will not be offering traditional voice initially, he said.