Deals of the year 2007: Maxis maxes out
Several international banks walked away from the Maxis deal, reckoning its size meant it couldn’t be done. ABN Amro and CIMB showed that it could.
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Advisers: ABN Amro, CIMB
Nominal amount: M$600 million
Nominal amount: M$1.9 billion
Nominal amount: M$2 billion
Nominal amount: M$1.55 billion
Nominal amount: M$1.8 billion
Ananda Krishnan had a problem. The Tamil Malaysian billionaire has investments ranging from satellite TV to gambling but at the heart of his empire is Maxis Communications, Malaysia’s largest cellular telecoms company, in which he held a 70% stake by the middle of 2007. Maxis, which is dominant in the near-saturated domestic cellular market, needed to go overseas to grow, and was doing so through bold expansion in India and Indonesia.