Deals
Saudi Telecom Said to Mull Options for Indirect Maxis Stake
- Gulf carrier owns indirect holding valued at $1.8 billion
- Saudi Telecom may consider selling stake to financial investor
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Saudi Telecom Co. is exploring options for its indirect stake in billionaire T. Ananda Krishnan’s Maxis Bhd., the second-largest Malaysian wireless carrier by market value, people with knowledge of the matter said.
The Gulf kingdom’s biggest telecommunications operator is gauging interest in its 25 percent holding in Binariang GSM Sdn., which is the controlling shareholder of Maxis, according to the people. The Riyadh-based company may consider selling the stake to a Malaysian pension fund or another financial investor, two of the people said, asking not to be identified because the information is private.