Maxis had considered buying out U Mobile and held initial discussions on the matter in 2024. (File pic)KUALA LUMPUR: The Malaysian billionaire families behind Maxis Bhd and U Mobile Sdn Bhd are reviving plans to combine the companies in a deal that could create the country’s biggest wireless operator by market value, people with knowledge of the matter said.
"Maxis, backed by the holding company of late tycoon T Ananda Krishnan, is moving a step closer to a merger by asking a select group of banks and law firms to submit proposals," the people said.
The company could pick advisers shortly, according to the people, who asked not to be identified because the information is private.
"The potential transaction is gaining traction as both sides are showing more willingness to negotiate," the people said.
