Maxis to invest USD300m in Aircel expansion

7 Sep 2006

Malaysia’s Maxis Communications has confirmed that it is planning to invest USD300 million to expand the network of its recently acquired Indian mobile operator Aircel. Maxis CEO Datuk Jamaludin Ibrahim said that Aircel has permission to expand its coverage from six telecom circles to eight, and that it has applied for mobile licences in 14 more circles in a bid to become a pan-Indian operator. Aircel currently provides services in Tamil Nadu, West Bengal, Orissa, Assam, North East and Jammu & Kashmir. Maxis acquired a majority stake in Aircel for USD1.08 billion in January, fighting off a rival bid from Telekom Malaysia. Maxis says it plans to spend as much as USD1 billion to expand the operator’s coverage and services.

India, Aircel, Maxis