Australia's Tuas drops after ending deal to buy Kepppel's stake in M1

Tuas

22/05/2026 06:28

** Shares of Tuas TUA.AX down 3.9% at A$2.4 after shedding as much as 10% earlier in day

** Co says it has terminated agreement with Singapore's Keppel KPLM.SI to buy its stake in mobile operator M1 via unit Simba Telecom in a deal worth S$1.43 billion ($1.12 billion)

** On Monday, TUA ended nearly 63% lower after Singapore's regulator suspended its review of the deal due to an investigation into the radio frequency bands that Simba could have been using

** TUA has shed 63% so far in the week, set to log its biggest weekly drop on record

** About 5.5 million shares change hands, 2.6x 30-day average

** Stock down 67.9% this year, including day's move

($1 = 1.2785 Singapore dollars)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))