Offer made for Maxis

Malaysian mobile operator Maxis Communications requested a trading suspension on Monday after the controlling shareholder offered to buy the rest of the company.

Usaha Tegas Sdn Bhd (UTSB), which owns 47 per cent of Maxis, is expected to make the offer before Thursday, May 3.

Ananda Krishnan, one of Malaysia’s richest men, is thought to be behind the move. The offer could be worth up to $5bn.

Maxis owns Indian operator Aircel and Indonesian operator Natrindo Telepon Secular. Maxis is the biggest cellco in Malaysia, with 8 million subscribers at the end of April.