Live TVLive TV
News18 » Business
1-min read

Saudi Telecom acquires stake in Maxis

News18

First published: June 26, 2007, 4:10 PM IST | Updated: June 26, 2007
facebook Twitter google skype whatsapp
Saudi Telecom acquires stake in Maxis
Saudi Telecom has acquired 25 per cent stake in Maxis Communications.

New Delhi: Dow Jones reports say Arab's largest telecom firm Saudi Telecom has acquired 25 per cent stake in Maxis Communications.

Saudi Telecom will also buy a 51 per cent direct stake in Maxis' Indonesian unit. The whole deal is worth $3.04 billion.

This indirectly gives Saudi Telecom an 18 per cent stake in India's Aircel.

Maxis is Malaysia's largest mobile operator which holds 74 per cent stake in Aircel.

Aircel currently operates in eight circles and has also applied for a Pan-India license. The deal still requires a final nod from the concerned authorities.

facebook Twitter google skype whatsapp