Just last week, Maxis Communications went private with T Anand Krishnan’s firm Binariang GSM Sdn Bhd buying 99.44% stake in the company. Yesterday their were rumors that Anand Krishnan sold 51% of Maxis to Saudi Telecom. However, in a news flash to Tadawul – Saudi Stock Exchange, Saudi Telecom said it has bought 25% of Maxis for $3.03 Billion. Saudi Telecom will also get 51% stake in Indonesian Mobile Service Provider PT Natrindo Telepon Seluler. Here is the Translated Version of the Page for our readers.
Maxis owns 74% stake in GSM servcie provider Aircel which has licenses to operate on PAN-India basis. This deal will help Maxis invest more aggressively in India.
Tags: Telecom, Mobile, Maxis, Saudi Telecom , Natrindo Telepon Seluler