Maxis considering Aircel sale

Maxis considering Aircel sale

Malaysia’s Maxis Communications is reportedly considering the sale of its Indian mobile unit, Aircel, due to regulatory uncertainty and a probe against its founder, Ananda Krishnan, and other officials for their alleged involvement in India’s telecoms scandal.

India’s Economic Times reports that Maxis is listening to offers in the wake of regulatory and policy uncertainty, with Sistema thought to be an interested party.

Bankers have reportedly brought many “potential permutations and combinations for mergers and strategic alliances” with Aircel, according to an unnamed executive.

Maxis is said to be upset with the manner in which investigating agencies had brought Krishnan and other officials into the probe surrounding the circumstances in which the company acquired Aircel from entrepreneur C Sivasankaran.

India’s Central Bureau of Investigations is exploring claims by Sivasankaran that he was pressured into selling the company to Maxis by former telecoms minister Dayanadhi Maran. An allegation denied by Maxis and Maran.

A Sistema India spokeperson reportedly denied the company was in talks with Aircel.

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