Sorry to hear that Applepark. I know how it feels being down lots.

Price below the acquisition announcement of M1 when it was around 5 or 6 dollars. So market pricing the possibility of acquisition not going through and any penalties.

In for a punt here in strawman but I know nothing...

I'm reading mixed messages about potential penalties

AFR said there is potential for revoking or suspending the simba spectrum license. However lots of other sources said penalties can be a fine with fixed amount or percent of turnover which is best case scenario.

I'm going to bet the latter and I think that AFR article spooked investors into selling. However i would recommend to do your own research and make up your own mind as i don't know enough of the Singapore regulations and punishment. I also don't believe Teoh is this deliberate in using spectrum without authorisation for financial gain.

For the record, Teoh did me a favour in the past by buying out my holdings in Telemedia (a dog stock I had during the dot com bust and neglected to do anything about as I was sitting on losses) and bringing the company into TPG where I managed to make up my losses and sell few years ago. If it wasn't for Teoh I would be sitting on massive losses in Telemedia so I have huge respect for Teoh.

One source I saw speculated that a competitor may have reported TUAS. There could be multiple games being played. A competitor had already voiced concern about the takeover last year. Structural advantage etc.

Believe that could be Singtel making the complaint. So it is coincidence they are raising this issue now during merger talks instead of much earlier. If they are meant to do regular checks then something isn't quite right here?

The lazy market operator called the ASX should have halted the shares from trading as requested by TUA. If I had spare time late yesterday I would have got in for a trade. There's an article in the AFR about it but it is paywalled. Anyway thanks to the ASX I bought that dip here in Strawman.