Saudi Telco’s Planned Maxis Buy To Grant It Aircel Stake

Saudi Telecom Company’s plans to acquire a 25 percent stake in Malaysia’s largest mobile operator, Maxis Communications, could be its gatepass to India.[via Business Standard.] The deal will grant the Saudi Arabian telco an 18.5 percent indirect stake in Chennai-based Aircel, India’s fifth largest GSM telecom service operator. Maxis, which has a 74 per cent stake in Aircel, and Saudi Telecom will invest around $900 million in India, the article said. This will help Aircel expand its operations.

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