Maxis to buy Astro broadband assets for up to RM83mil
Maxis Broadband has agreed to acquire the broadband assets of Astro Malaysia's subsidiary for up to RM83 million. The deal aims to expand Maxis's network footprint and improve its converged connectivity offerings.
Why it matters
This consolidation in the Malaysian telecommunications market reflects a broader trend of companies seeking to scale through strategic asset acquisitions.
PETALING JAYA: Maxis Bhd 's wholly-owned subsidiary, Maxis Broadband Sdn Bhd, has entered into a conditional sale and purchase agreement (SPA) with MEASAT Broadcast Network Systems Sdn Bhd (MBNS), a wholly-owned unit of Astro Malaysia Holdings Bhd , to acquire MBNS’ broadband business assets for up to RM83mil in cash.
Under the SPA, Maxis Broadband will acquire MBNS’ entire broadband subscriber base — which stood at 178,631 active subscribers as of end February — alongside associated contracts, software, equipment and inventories. The transaction excludes MBNS’ brand name, trademarks, and goodwill.
In a filing with Bursa Malaysia, Maxis noted the acquisition aligns with Maxis Broadband's core strategy to drive growth through converged mobile and fixed connectivity solutions.
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