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Malaysian Tycoon Offers $4.6 Billion To Buy Rest Of Maxis

Malaysian billionaire Ananda Krishnan has offered about 16 billion ringgit ($4.6 billion) to buy out the mobile telco Maxis, in a bid that values Maxis’ shares at a 20 percent premium. “It puts the total worth of the country’s seventh largest publicly listed company at 39.5 billion ringgit ($11.3 billion), compared to its market capitalization of 32.9 billion ringgit ($9.5 billion),” reports TelecomAsia. The offer was made by Binariang GSM, which was especially set up by Maxis’ parent company, Usaha Tegas, which is wholly owned by Krishnan, for the takeover…Binariang aims to raise funds for the deal from the debt market and other avenues.

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May 4, 2007 - Posted by | News

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