06-27-2007, 06:02 PM
Maxis buy gives Saudi Telecom big role in India
New Delhi, June 26: Saudi Telecom Co, the largest telecom operator in Saudi Arabia, has bought a 25 per cent stake in Malaysiaâs Maxis Communications for $3 billion. This gives it an indirect entry into India as it will own an 18.5 per cent stake in Aircel, a GSM-based mobile telecom service provider. Maxis owns 74 per cent equity in Aircel.
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Aircel provides services in Chennai, Tamil Nadu, West Bengal, Assam, Orissa, Jammu & Kashmir, Bihar, Himachal Pradesh and the North-East. It has a subscriber base of 5.5 million.
New Delhi, June 26: Saudi Telecom Co, the largest telecom operator in Saudi Arabia, has bought a 25 per cent stake in Malaysiaâs Maxis Communications for $3 billion. This gives it an indirect entry into India as it will own an 18.5 per cent stake in Aircel, a GSM-based mobile telecom service provider. Maxis owns 74 per cent equity in Aircel.
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Aircel provides services in Chennai, Tamil Nadu, West Bengal, Assam, Orissa, Jammu & Kashmir, Bihar, Himachal Pradesh and the North-East. It has a subscriber base of 5.5 million.