Just one day after it was announced that SIMBA's parent company would acquire M1, yet another telco consolidation is set to take place with StarHub moving to purchase the remaining 49.9% share in MyRepublic in a $105.2 million deal, making it the full owner of its broadband business.
StarHub has held a majority 50.1% stake in MyRepublic's broadband business since 2022. The new deal consists of $94.3 million for the shares and $10.9 million for MyRepublic Broadband's assets.
According to a StarHub statement, the move will enable "greater value creation through service differentiation and cross-product bundling".
In the statement, StarHub CEO Nikhil Eapen said the company's role is to provide reliability, performance and consistency for all customers. "As the market shifts, scale, quality, and resilience matter more than ever," he explained. "Smaller players may find it harder to sustain, especially without robust platforms."
MyRepublic will retain control of its MVNO mobile business, stating in a press release that "non-broadband customers can rest assured that they will continue to enjoy MyRepublic services".
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