Maxis’ privatisation opens a new entry
NO matter what you say about T. Ananda Krishnan, you could never accuse him of being not shrewd enough.
Last Friday, Maxis Communications Bhd marked its last trading day after five years on Bursa Malaysia. As of that date, reports placed Binariang GSM Sdn Bhd’s shareholding at 99.44%, allowing Ananda Krishnan’s (AK) vehicle to invoke Section 34 of the Securities Commission Act to mop up the remaining Maxis shares it did not already own.
Maxis’ shares were de-listed on Monday, and just a day later, AK dropped his latest bombshell. Saudi Telecom Company (STC), the Middle East’s largest telecommunications group, was making its first foray overseas, taking up a 25% stake in Binariang for a cool US$3.05bil (RM11bil).
Related topics on MalaysianWireless:
- Saudi Telekom Company 25% stake in Maxis
- Binariang owns more than 90% of Maxis
- Binariang rules Maxis
- Maxis will soon announce partner for PT Natrindo Telepon Seluler
- An Interview with Maxis
- Binariang bids for Maxis
- Will Maxis go Private?
- Maxis going private?
