$6 billion to be invested in Aircel by Maxis

Malaysian Mobile group Maxis Communications is preparing to invest a huge amount in it’s 74% owned Indian Subsidiary over the next few years.

Maxis are said to be prepared to invest some $6 billion over the next few years in Aircel. The company have high expectations and are expecting to hit 50 million connections in total this year with Aircel, which is currently only the seventh largest mobile operator in India.

A large portion of Maxis’ investments will be going into to the development of infrastructure as Aircel completes a national network of communication towers. At the present time India are adding around 10 million new mobile subscribers a month and much of these new additions are from rural areas which Aircel plans to cover as part of their network expansion.

Maxis group also has approximately 11.5 million subscribers in Malaysia and some 6 million in Indonesia. The company also raised $3.3 billion via an IPO, offering a stake of 30% to potential investors. Source – intomobile.com

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