DC1, an asset of Keppel DC REIT (Photo: Google Maps)

Keppel DC REIT has inked an agreement with Singapore telco operator M1 to invest in a newly incorporated company that will own the latter’s mobile, fixed and fibre network infrastructure.

The agreement is a follow-up to an April 2021 announcement, which first gave hints of the teaming that will see M1 monetising this infrastructure.

The new company will be known as NetCo, and it will acquire M1’s network infrastructure at the book value of SGD580 million.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.