Maxis may invest up to USD1.1bn in India's Aircel

18 Dec 2017

Maxis Communications Berhad of Malaysia may invest between USD500 million and USD1.1 billion in its Indian subsidiary Aircel depending on the company’s final debt resolution plan. The Economic Times cites several unnamed sources with knowledge of the matter as saying that Aircel is currently in advanced talks with Bharti Airtel and could enter a network-sharing deal or intra-circle roaming deal with the market leader. The struggling cellco had previously been gearing up for a merger with Reliance Communications (RCOM), but prolonged delays in securing permission for the tie-up led to the collapse of the agreement last month. Shortly after, it emerged that Aircel was planning to close down services in six of its least profitable service areas (Uttar Pradesh West, Haryana, Gujarat, Madhya Pradesh, Himachal Pradesh and Maharashtra) and return its 2G spectrum for those circles to the government in a bid to boost profitability.

India, Aircel, Bharti Airtel, Maxis, Reliance Communications (RCOM)