StarHub acquires rest of MyRepublic’s broadband business in $105m deal after Simba buys M1
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StarHub will acquire the remaining 49.9 per cent share in its smaller rival as well as MyRepublic Broadband's key operational assets and brand in Singapore.
PHOTO: ST FILE
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SINGAPORE – StarHub announced on Aug 12 that it has taken full ownership of MyRepublic’s broadband business, in the second act of a milestone telco consolidation here over just two days.
StarHub acquired the remaining 49.9 per cent share of MyRepublic Broadband, as well as its key operational assets and brand in Singapore.
With the sale of its remaining stake in the broadband business, MyRepublic retains a virtual mobile business that StarHub does not have a stake in.
StarHub, which is listed on the Singapore Exchange mainboard, already held a controlling stake of 50.1 per cent in MyRepublic’s broadband business since 2022.
The latest purchase comprises about $94.3 million for the 49.9 per cent equity stake and over $10.8 million for the assets and brand.
However, the $94.3 million will be set off against an existing $74.2 million loan from StarHub to MyRepublic, with the balance of $31 million to be paid in tranches.
The deal announcement comes a day after the surprise purchase of M1’s telco business by Simba Telecom,
On the MyRepublic purchase, StarHub said in an Aug 12 statement: “This move strengthens StarHub’s multi-brand, multi-segment strategy in the Singapore broadband market and enables greater value creation through service differentiation and cross-product bundling.”
In the statement, StarHub chief executive Nikhil Eapen said: “We’re in a phase of consolidation and we’re not just watching it unfold, we’re shaping it.”
He added: “As the market shifts, scale, quality, and resilience matter more than ever. Smaller players may find it harder to sustain, especially without robust platforms.
“Our role is to step up to provide the reliability, performance and consistency that customers deserve at a time when they need it most.”
As at the first quarter of 2025, StarHub had 577,000 broadband subscribers.
Revenue and subscriber numbers for MyRepublic were not available.
StarHub’s shares rose 1.7 per cent to close at $1.18 on Aug 12.
Shares of Keppel, which is selling M1’s telecoms business to Simba, slid 3.2 per cent to $8.31.
But shares of Simba’s Australia-listed parent shot up 28.6 per cent to end at A$7.14.
