Maxis and Reddys buy out Aircel

Malaysia’s largest telecom company Maxis Communications, in partnership with Apollo Hospitals promoter Reddys, will buy Aircel for $1.08 billion. Maxis plans to list Aircel.
Maxis will take a direct 65% stake in Aircel by spending $702m. It will hold the remaining stake indirectly through a joint venture, owned 74% by Apollo and 26% by Maxis.
This implies [...]