KUALA LUMPUR, July 17 — Maxis is reportedly eyeing an acquisition of U Mobile to bolster its market share, according to Bloomberg. The potential deal, which is still in its early stages, faces significant obstacles, including a high valuation of over RM10 billion for U Mobile, which boasts more than 9 million subscribers and 95% national 4G coverage as of Q1 2024.
Despite the interest from Maxis, U Mobile has reportedly dismissed the proposal, with major shareholder Vincent Tan confirming the rejection. Instead, U Mobile is focused on an upcoming initial public offering (IPO) and preparing to bid for Malaysia’s second 5G network. The company has also solidified partnerships with various Network Facility Providers and tech giants like Huawei and ZTE to enhance its 5G capabilities.
