Wednesday June 27, 2007
Abdullah lauds Saudi Telekom’s purchase of Maxis shares
ROME: The US$3.05bil (RM11bil) purchase by Saudi Telecom of Maxis shares is a vote of confidence in the Malaysian economy, Prime Minister Datuk Seri Abdullah Ahmad Badawi said.
“I have just heard about the deal. I am very happy with it.
“This is a reflection of the confidence they have in Malaysia. It is not easy to get them (the Saudis) to invest,” he told Malaysian newsmen covering his visit here.
Saudi Arabia’s largest phone company, Saudi Telecom Co (STC), is taking a 25% stake in Binariang GSM Sdn Bhd, the parent company of Maxis Communications Bhd, in a deal worth US$3.05bil (RM11bil).
It was reported that Saudi Telekom had agreed to pay US$11bil for a 25% stake in Maxis, which has already been taken private by Usaha Tegas Bhd, a company controlled by tycoon Ananda Krishnan.
Under the deal, Saudi Telekom also gets control of Maxis’ Indonesian operations.
The deal also values Maxis at US$12bil, or RM16.40 a share, 5% more than the RM15.60 a share Binariang paid to take Maxis private.
Related Stories:
Malaysia and Italy to work together in agriculture
Unit to ensure all’s well for firms investing abroad, says PM
Saudi firm buys into Binariang
News Poll
- Man posted doctored photos of Nik Aziz
- Heartbreaking wait for mum
- The world just got bigger
- Sodomy II: Judge decision on recusing himself on Feb 18
- Opposition leaders decry court’s ruling
- Thumbs-up for Najib
- 5-0 for BN’s Zambry
- Saiful files report over death threat
- WWF: Orang asli being used
- Fleet card cloning ring busted with arrest of trio
- 60 lose RM25mil in gold investment scam
- Canberra to set new skills list
- Fleet card cloning ring busted with arrest of trio
- MAS offers CNY bargains
- Saiful files report over death threat
- Sodomy II: Judge decision on recusing himself on Feb 18
- Toyota puts the brakes on problem
- Manila joins hunt for Semporna gunmen
- Kek Lok Si all lit up to welcome Year of the Tiger
- Muhyiddin wants all maritime units under one roof

