Tuas Ltd. has terminated its planned $1.1 billion acquisition of Singapore telecom operator M1 Ltd., the Australian-listed company confirmed in a Friday filing. The deal collapsed after several conditions were not met by a May 21 deadline, following a regulatory halt to the review process. This abrupt end marks a significant setback for Tuas's expansion plans in the Southeast Asian market.

Tuas's subsidiary Simba continues to cooperate with Singapore's Infocomm Media Development Authority (IMDA), which launched an investigation into potential license breaches. The regulator's intervention directly stalled the transaction, creating uncertainty for both companies. M1, a major local player, now faces an unclear strategic path forward without the proposed capital infusion and ownership change.

The failure deals a blow to Tuas's growth ambitions and wipes out a key corporate move. For M1, the collapse leaves its future ownership unresolved, potentially affecting investor confidence and market positioning. The incident underscores the decisive impact of regulatory scrutiny on large cross-border telecom deals.