Malaysian billionaires revive plan to create nation’s biggest mobile operator
Maxis is seeking proposals from banks and law firms for a potential deal, while U Mobile’s owners may seek a valuation of RM10 billion or more.
The Malaysian billionaires behind Maxis and U Mobile are resuming discussions about a merger that could make the combined company the country's largest wireless provider by market value. Maxis, owned by the T Ananda Krishnan holding company, is seeking proposals from a select group of banks and law firms, with a potential deal valued at RM10 billion or more.
If successful, the merger would surpass CelcomDigi in market capitalization. Both companies have a history of on-and-off talks about a merger, but recent negotiations show more willingness to settle. U Mobile, controlled by Malaysian princess Tun Aminah Sultan Ibrahim Ismail and businessman Vincent Tan, is the country's second 5G network provider. The merger is still in deliberations, with no guarantee of reaching an agreement.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
