Saudi Telecom partners with recently privatised Maxis

The Saudi telco pays $3 billion and underwrites half of a $900 million loan for a 25% stake in Maxis and a 51% stake in Maxis' Indonesian subsidiary.

Saudi Telecom will invest $3.05 billion to form a strategic partnership with Binariang, the principal shareholder of Maxis Communications, MalaysiaÆs leading telco. Saudi Telecom will acquire a 25% effective interest in Maxis, which has operations in Malaysia and India, and a 51% direct stake in MaxisÆ Indonesian subsidiary, Natrindo Telepon Seluler. As part of the investment, Saudi Telecom will participate in a $900 million subordinated loan, which will be underwritten equally by Saudi Telecom and the existing shareholders of Binariang....

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