– SingTel: Market watchers believe that there could be potential consolidation within the telecoms sector in 2025, where Singapore's 4-player market may consolidate into three, due to the deferral of payment by M1 and Starhub for its 700-megahertz (MHz) spectrum to somewhere between November 2024 and end-June 2025. If so, this could lead to potential share price volatility for the telcos.