Reports regarding Maxis' interest in acquiring U Mobile have been circulating for the past few years, and most recently, TheEdge reported that discussions between the two parties have been stalled for almost 4 months.
One of the reasons is that the asking price for U Mobile, which reached $14 billion, is considered high by Maxis. Maxis is said to have come with an offer of between RM10 billion and RM12 billion.
U Mobile was previously chosen by the government to develop the two countries' 5G networks, which are currently in the process and are expected to reach 80% coverage in the next few months. U Mobile is also among those focusing on indoor 5G network coverage.
With this development, it is not known whether Maxis will continue with its intention to acquire U Mobile or vice versa. Previously, in the telecommunications arena, one of the major mergers and consolidations that occurred was Celcom and Digi, which now form CelcomDigi.
