M1

M1: (S$3.57) Acquires stake in Oman's first international gateway operator
M1 will be spending $10.3m for a 15%-stake in Integrated Telecommunications Oman SAOC (TeO), the Sultanate of Oman's first private international gateway operator.

This will be M1's first investment outside of Singapore and may potentially raise a new set of risk concerns for investors.

As a gateway operator, TeO provides IDD call services and is also a reseller of mobile services in Oman.

TeO intends to tap on M1’s strengths and plans to become a full service telco provider and also hopes to eventually become a public company.

At the current price, M1's valuation is still relatively cheaper than its peers at 17.3x forward P/E, compared Singtel's 18.1x and Starhub's 19.3x.