Billionaire Krishnan offers to buy all of Maxis
Billionaire T Ananda Krishnan plans to buy full control of Maxis Communications Bhd, Malaysia's biggest mobile-phone operator, which is valued at 9.6 billion dollars.
By Agencies |
KUALA LUMPUR: Billionaire T Ananda Krishnan plans to buy full control of Maxis Communications Bhd, Malaysia's biggest mobile-phone operator, which is valued at 9.6 billion dollars.
Ananda's Usaha Tegas Sdn and affiliates plan to make an offer to buy all shares they don't already own by May 3, Maxis said today in Indonesia.
The purchase of an estimated 54 per cent stake, valued at 5.1 billion dollars at current prices, would be the biggest acquisition of phone assets in Malaysia.
Ananda would get full control of the company, whose profits have surged 46 per cent over two years, led by subscriber gains at home and overseas markets such as India.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
