Maxis denies selling Aircel stake to AT&T

The Economic Times of India has reported that AT&T was close to buying Maxis’ 74 per cent stake in Aircel

Maxis Communications Bhd, Malaysia's biggest mobile-phone operator by subscribers, denied a report in the Economic Times newspaper that the company plans to sell a stake in India's Aircel Ltd to AT&T Inc.

"We would like to advise you that this news item is based on speculation," Maxis said in an e-mailed response to Bloomberg queries today. "We are not aware of any discussions with AT&T about this matter."

AT&T is close to buying a stake in Aircel from Maxis, valuing the Indian mobile-phone carrier at as much as US$6 billion, the Economic Times reported, citing people it didn't identify.

AT&T doesn't comment on rumour or market speculation, Greg Brutus, a company spokesman for the Asia Pacific region, said in an e-mail.

Maxis, which was taken private by its owners last year, also said the company and its partners remained committed to the accelerated growth and development of Aircel. - Bloomberg