KUALA LUMPUR – Shares of Maxis Bhd advanced in active trade Thursday morning following reports that the telecommunications heavyweight is revisiting plans to join forces with rival operator U Mobile Sdn Bhd.
At 10.23 am, Maxis was up five sen to RM3.56, with 268,300 shares changing hands.
The upward momentum comes amid reports that the two telcos are reviving discussions for a blockbuster tie-up—a move that would create Malaysia’s largest mobile carrier by market value.
Weighing in on the development, Hong Leong Investment Bank (HLIB) Research noted that consolidating the two players would remove an aggressive price competitor and stabilize market dynamics, effectively consolidating the landscape into a duopoly alongside CelcomDigi.
“However, if the merger materialises, we believe the near-term implications would be negative given higher capex for 5G, weaker earnings, and dividend pressures for both Maxis and CelcomDigi Bhd,” the research house stated.
Despite the near-term headwinds, HLIB retained its “overweight” rating on the broader telecommunications sector. – October 29, 2026
