Saudi Telecom is planning to make its second major foreign acqui sition.

Saudi Telecom is planning to make its second major foreign acquisition. In June 2007, Saudi Telecom had bought a 25 per cent stake in Malaysia’s Maxis Communications and a 51 per cent stake in Maxis’s Indonesian unit in a deal worth $3 billion. Meanwhile, Saudi Telecom and Binariang, Maxis’s biggest shareholder, will underwrite a $900 million loan to expand Maxis’s operations in India, where the company operates through its Aircel unit.