According to Berita Harian, Malaysian telecommunications company Maxis is looking for ways to acquire U Mobile to expand its market share. However, the agreement is still in its early stages and faces several significant obstacles.So, what should you know about it?
One of U Mobile's major shareholders, Tan Sri Vincent Tan explained that the company will not accept the Maxis takeover proposal and plans to apply for a listing later this month.
According to sources, since U Mobile's shareholders require a valuation of more than RM10 billion, this may be a major obstacle to whether the transaction can be completed. Therefore, this plan may not be realized.
Tan Sri Vincent Tan in an interview said U Mobile will reject the takeover proposal from Maxis and will launch an initial public offering (IPO) plan at the end of this month. An official representative from U Mobile did not comment on market speculation as it is busy preparing to participate in the tender for Malaysia's second 5G network.
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