Malaysian mobile group Maxis Communications is preparing to invest billions in its 74%-owned Indian subsidiary, Aircel, over the next few years. The company expects to hit 50 million connections in total this year with Aircel, which is only the seventh-largest mobile operator in India.
Large portion of Maxis’ investment will go in infrastructure as Aircel completes a national network of communications towers. India keeps adding about 10 million new mobile subscribers a month and much of the new additions come from rural areas, which Aircel plans to cover with the network expansion.
Aside from India, Maxis group has about 11.5 million subscribers in Malaysia and 6 million in Indonesia. Earlier in November, the company raised $3.3 billion via an IPO, offering 30% stake to investors.
[Via: GSMA]