KUALA LUMPUR, July 17 – Maxis Bhd’s shares rose during the morning trading session following reports that the company is considering acquiring U Mobile Sdn Bhd to expand its presence in the domestic market.
At 10.51 am, the telecommunication firm rose five sen to RM3.52, with 165,900 shares traded.
According to recent reports, Maxis has expressed its interest in U Mobile with talks still in the early stages.
Among U Mobile’s major shareholders are tycoon Tan Sri Vincent Tan and Temasek Holdings Pte-backed Singapore Technologies Telemedia Pte.
However, Tan said U Mobile was rejecting the buyout offer and planning to file for an initial public offering at the end of July.
U Mobile has been mulling an IPO since 2021.
