You may recall that back in 2024, Bloomberg reported that there were talks of a buyout of local telco U Mobile by fellow telco Maxis. This comes following the merger of two other telcos to form CelcomDigi, currently the largest telco in Malaysia. The Edge reported back in February of this year that talks have stalled due to pricing disagreements. Earlier today, Bloomberg reported that talks have been revived, citing sources familiar with the matter.
According to the new report, Maxis has asked a select group of banks and law firms to submit proposals, and that it could pick advisers shortly. As for U Mobile, its owners may seek a valuation of RM10 billion or more as part of the deal. The owners of the orange telco previously asked for RM14 billion, so if nothing else, it looks like there’s now more room for negotiation. The report also mentions that owners of the latter are “showing more willingness to negotiate”.
