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M1 LIMITED B2F.SI STARHUB LTD CC3.SI Telecom Sector - Why a Price War Now?
- Effective pricing for higher-end data plans slashed by 25-50% even before the spectrum auction in 3Q16.
- Intention to discourage the entry of new player even at the cost of near-term revenue; FY16F earnings may be reduced 5-8% for M1 and StarHub in our estimates.
- Maintain FULLY VALUED on StarHub and HOLD on M1.
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