Maxis leaves reported U Mobile merger unconfirmed
The Malaysian telecoms company said it continues to assess strategic opportunities and would disclose any material corporate development.
Maxis Bhd has stopped short of confirming or denying a Bloomberg report about a possible merger with U Mobile Sdn Bhd. Responding to Bernama on October 28, the telecommunications company said it continually assesses strategic opportunities and partnerships that could add value.
Maxis said any material corporate development would be disclosed to the market in a timely manner. Its response did not confirm whether a merger with U Mobile would proceed.
Bloomberg reported that a potential combination could result in Malaysia’s biggest wireless operator by market value. Maxis’s website put its market capitalisation as of October 2026 at US$6.7 billion to US$6.9 billion, with a ringgit range of RM27.2 billion to RM28.3 billion.
Maxis shares ended trading at RM3.51, down 14 sen, on a volume of 4.83 million shares. The company’s response came after Bloomberg’s report on the possible merger earlier on October 28.
