Malaysian telecommunications company Maxis is seeking proposals from banks and law firms for a possible merger with U Mobile, according to a report. Renewed talks between the companies could create Malaysia’s biggest wireless operator by market value.

Both sides were said to be more willing to negotiate, and Maxis could pick advisers soon. The companies have held on-and-off merger talks for years, but an agreement remains uncertain.

Previous merger talks stalled over differences in valuation.

Maxis shares were down 4.4% at 4:25 p.m. Wednesday in Kuala Lumpur, giving the company a market value of about 27.3 billion ringgit (US$6.69 billion).

U Mobile was selected in 2024 to build the country’s second 5G network and completed migration to its own network in July. It also reported 90% nationwide 5G coverage nine months ahead of schedule. The company had to meet obligations to Digital Nasional Berhad before deployment.

🔗 Source: Bloomberg