NEW DELHI: Maxis Berhad has held
preliminary discussions to sell its Indian unit, Aircel, with bankers
representing Russia's Sistema as Malaysia's largest
telecom operator 'listens to offers' because of regulatory uncertainty and the
probe against its founder T Ananda Krishnan
and other top officials for alleged involvement in a telecom scandal in India.
"Maxis sees itself as a long-term player in India, but will listen to offers, in the wake of regulatory and policy uncertainty. Bankers have brought many potential permutations and combinations for mergers and strategic alliances, including that of Sistema, to the company. The Malaysian company has held a few rounds of discussions with bankers representing Sistema. But the discussions could be considered serious only if they reach a stage where the potential suitor begins a due diligence of Aircel's accounts," said an executive close to Maxis with direct knowledge of the discussions.
"Maxis sees itself as a long-term player in India, but will listen to offers, in the wake of regulatory and policy uncertainty. Bankers have brought many potential permutations and combinations for mergers and strategic alliances, including that of Sistema, to the company. The Malaysian company has held a few rounds of discussions with bankers representing Sistema. But the discussions could be considered serious only if they reach a stage where the potential suitor begins a due diligence of Aircel's accounts," said an executive close to Maxis with direct knowledge of the discussions.
