M1: M1 announced yesterday an agreement to let Liberty Wireless access to its mobile network, making it the first mobile virtual network operator (MVNO) to offer voice, messaging and data services to postpaid customers in SG. Circles Asia is expected to begin offering its mobile service towards the end of 2015.
M1 revealed that they also hosts 2 MVNOs offering prepaid mobile services to consumers. This is an interesting development ahead of the potential introduction of a 4th telco as it may actually make it more difficult for the newcomer to fight for market share in an already saturated market. However, the move could also chip away M1’s own market share and make it more difficult for the incumbents to raise ARPU, especially if Circles Asia intends to use cheap data pricing as its main means of gaining market share.
OCBC has a BUY rating with an unchanged TP: $3.66.
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