Summary
- Maxis neither confirms nor denies reported merger discussions with U Mobile.
- Potential deal could create Malaysia’s largest telecom operator by market value.
- Maxis shares fall 14 sen, closing at RM3.51 with 4.83 million shares traded.
KUALA LUMPUR, October 29 — Maxis has neither confirmed nor denied reports of renewed merger discussions with U Mobile, saying it continues evaluating strategic opportunities and partnerships.
Bloomberg reported that Maxis had approached selected banks and law firms for proposals concerning a potential merger. Maxis is valued at approximately RM28.3 billion.
While U Mobile’s shareholders reportedly seek RM10 billion or more. The proposed combination could surpass CelcomDigi’s RM29 billion market valuation, although no agreement has been reached.
Previous acquisition discussions in 2024 reportedly stalled over valuation disagreements. U Mobile operates Malaysia’s second 5G network.
Potentially strengthening the combined company’s infrastructure. Maxis shares closed 14 sen, or 3.84%, lower at RM3.51 on Wednesday, with 4.83 million shares traded.
