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Malaysian billionaire Ananda's Maxis may lose RM27.5bil on Aircel foray


Ananda, 79, is Malaysia’s third-richest man with an estimated net worth of US$6.1bil, according to the Bloomberg Billionaires Index.  He controls stakes in Maxis Bhd, Malaysia’s biggest mobile carrier by subscribers, as well as pay-TV operator Astro Malaysia Holdings Bhd and oil services provider Bumi Armada Bhd.  The tycoon also has interests in properties in the UK and Switzerland.

Ananda, 79, is Malaysia’s third-richest man with an estimated net worth of US$6.1bil, according to the Bloomberg Billionaires Index. He controls stakes in Maxis Bhd, Malaysia’s biggest mobile carrier by subscribers, as well as pay-TV operator Astro Malaysia Holdings Bhd and oil services provider Bumi Armada Bhd. The tycoon also has interests in properties in the UK and Switzerland.

KUALA LUMPUR: Tycoon T. Ananda Krishnan’s (pic) company is poised to lose a total of about US$7bil (RM27.5bil) from a failed 12-year foray in the Indian wireless market, marking his biggest-ever hit on a soured investment, people with knowledge of the matter said.

Ananda’s-backed mobile carrier Aircel Ltd filed to start insolvency proceedings in India, the company said on Wednesday, confirming an earlier Bloomberg News report the move was imminent.

   

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