Global Communication Services Holdings Limited (GCSHL), a wholly owned subsidiary of Malaysian telecom company, Maxis Communications, has applied to the Foreign Investment Promotion Board (FIPB) to increase its direct and indirect shareholding in Aircel from 26 per cent to 73.9 per cent. In December 2005, Maxis had announced the acquisition of the C.
Sivasankaran-promoted Aircel for $1.1 billion in partnership with the Chennai-based Reddy family.
