Saudi Arabia-based telecom service provider Saudi Telecom Company (STC) has acquired a 25 per cent stake in Malaysia’s Maxis Communications for $3 billion. This is through the indirect route as STC has purchased 51 per cent direct stake in Natrindo Telepon Seluler, Maxis’ principal shareholder. The acquisition will enable Saudi Telecom to expand operations in India as Maxis owns a controlling stake in telecom operator Aircel.
