PETALING JAYA: The much speculated purported merger between U Mobile Sdn Bhd and Maxis Bhd may not materialise after all, going by some news reports t...
The much speculated purported merger between U Mobile Sdn Bhd and Maxis Bhd may not materialise after all, going by some news reports that have emerged recently.reported that major shareholders of U Mobile Sdn Bhd will reject any buyout offers for the telecom-munications company, citing people with knowlege of the matter.
They also said that U Mobile is on track to file for an initial public offering in the current quarter, the report added.on July 18, quoting Communications Minister Fahmi Fadzil as stating that the Malaysian Communications and Multimedia Commission will ensure that any merger between telecommunications service providers upholds healthy competition and prevents monopolies in the industry.
Furthermore, Fahmi was quoted saying the proposal for Maxis to acquire U Mobile is primarily a commercial decision made by the companies involved and the government does not interfere in these business decisions and remains neutral on whether the merger would be beneficial or detrimental to the market.
Last Monday, it was reported that Maxis, ranked as the country’s second-largest mobile operator and controlled by billionaire T. Ananda Krishnan, was considering buying out U Mobile to expand its presence in Malaysia.
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