Deals
Singapore's MyRepublic Seeking Private-Equity Backing for M1 Bid, Sources Say
- Company competing with China Broadband Capital, Shanxi Meijin
- MyRepublic lost bid last year to become fourth operator
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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).