Maxis looks to purchase stake in Sri Lanka Telecom (Malaysia)
May 15, 2007
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Malaysia-based Maxis Communications, in conjunction with its parent company, Usaha Tegas, is reportedly planning to purchase stake in Sri Lanka Telecom (SLT). Usaha Tegas is currently exploring a deal with Japan's NTT Communications Corporation to buy a part of the latter's 35.2 per cent stake in SLT. Maxis intends to participate in the transaction either through a management partnership or equity sale.
Meanwhile, SLT is also looking to acquire the stake. According to a Sri Lankan government committee studying the deal, SLT has the right of first refusal in case NTT decides to sell its stake.
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