As per latest information, Maxis Berhad has held a preliminary meeting with bankers to sell its Indian unit, Aircel.

If reports are to be believed, Aircel is facing regulatory uncertainty as well a probe against its founder T Ananda Krishnan and other top officials for allegedly involved in a telecom scandal in India.

According to an executive close to Maxis with direct knowledge of the discussions, Maxis sees itself as a long-term player in India, but is planning to leave India in the wake of regulatory and policy uncertainty. 

The executive further added, Maxis is also upset with the way the investigating agencies stretched Krishnan’s case and other top officials into the probe. 

Bankers have reportedly brought many potential permutations and combinations for mergers and strategic alliances to the company. 

As a matter of concern, it is found, these day, the Central Bureau of Investigation(CBI) is probing Krishnan 's charge that he was pressurized to sell Aircel to Maxis by former telecom minister Dayanidhi Maran. 

Maran and Maxis have intensely denied all unlawful activities. However, some reliable insiders informed that Sistema will wait for finalization of policy issues in the upcoming auctions, such as reserve price for airwaves and mortgage of spectrum.