Maxis buys up Advanced Wireless for RM15.8 million

PETALING JAYA: Maxis Bhd is acquiring the remaining 25% stake it does not own in Advanced Wireless Technologies Sdn Bhd (AWT) from Astro Malaysia Holdings Bhd for RM15.83 million, in a related party deal.
In a filing with Bursa Malaysia, Maxis said it had signed a share purchase agreement with Astro’s wholly owned subsidiary MBNS Multimedia Technologies Sdn Bhd (MMT) for the acquisition.
As part of the acquisition, Maxis and/or its related corporations will also purchase goods and services totaling RM3 million in value from MMT and/or its related corporations during the period up to Dec 31, 2017.
AWT, a provider of wireless multimedia related services, owns UMTS (Malaysia) Sdn Bhd, which is the holder of a 2100MHz spectrum assignment from Malaysian Communications and Multimedia Commission for 15 years expiring on April 1, 2018.
Maxis said the transaction is another important step of the group’s transformation to streamline its structure.
“By acquiring the remaining 25% stake in AWT and thus having full ownership of AWT, Maxis Group could accelerate its decision-making on matters surrounding the 2100MHz spectrum assignment and other priority items that support its business plan and commercial objectives. Network infrastructure remains a critical component of the Maxis Group’s transformation journey to provide unmatched customer experience,” it noted.