Krishnan In $5 Billion Buy-Out Bid For Maxis

Maxis Communications founder Ananda Krishnan has announced a plan to take the company — Malaysia’s largest mobile operator — private. “Usaha Tegas, the holding company through which Mr Krishnan controls Maxis with an indirect 47 percent stake, is expected to make an offer this week for the rest of the shares it does not own, Maxis said. At current share prices, the offer would be valued at M$17.4 billion (US$5.08 billion)”, reports FT. The buy-out offer is reportedly unexpected, but could be related to plans to expand Maxis overseas without interference from minority shareholders, or possibly in preparation for a foreign listing. Maxis is keen to enter the Indonesian and Indian markets, reports the story.

Comments have been disabled for this post