Ananda Krishnan, who founded Maxis Communications, has proposed to take over the Malaysian mobile operator for $5 billion.

According to reports, Krishnan is planning to expand overseas and does not want to run into minority shareholder interference.

Usaha Tegas, the holding company through which Krishnan controls Maxis, with an indirect 47 per cent stake, is expected to make an offer for the rest of Maxis's shares that it does not own.

Meanwhile, there is speculation that Maxis may go in for a foreign listing later.