The telecommunications company also said it is open to a local partner taking a "meaningful minority stake" in its Australian subsidiary Optus.

The failed M1-Simba merger signals further cost pressures for Singapore telcos and a setback for Keppel's strategy. Read more at straitstimes.com. Read more at straitstimes.com.

Singapore's telecoms market won't consolidate just yet

The Singaporean telco says it is looking to sell a minority stake in the troubled operator to a “like-minded long-term local partner”.

The telecommunications company also said it is open to a local partner taking a "meaningful minority stake" in its Australian subsidiary Optus.

By Amanda Lee and Kimberley Kao

Singtel shares drop amid a weakening Singapore business and explore potential telco consolidation. Read more at straitstimes.com. Read more at straitstimes.com.

Consolidation is necessary for Singapore’s overcrowded telco market to prevent a destructive price war. Read more at straitstimes.com. Read more at straitstimes.com.

Following the collapse of the sale, Keppel pushed back plans to divest M1 by one to two years. Read more at straitstimes.com. Read more at straitstimes.com.