Eileen Yu
for By The Way
| September 22, 2021
| Topic: Telcos
StarHub is forking out up to $162.8 million to acquire a 50.1% stake in MyRepublic’s broadband business in Singapore, taking out the latter’s 6% share in the local market. This will see the MyRepublic business unit subsumed as a StarHub subsidiary when the transaction is finalised.
MyRepublic carved out a new entity, called MyRepublic Broadband, for the transaction, which would encompass its consumer and enterprise customers in the city-state. StarHub Online, which comprises the telco’s broadband business, would acquire the MyRepublic shares.
The acquisition would push StarHub’s share of the local broadband market to 40%, the two companies said in a joint statement Wednesday. MyRepublic currently has a 6% share of the market.
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Eileen Yu
for By The Way
| September 22, 2021
| Topic: Telcos