SHARES of telco giant Maxis Bhd slipped 10 sen in early trade today on news that majority shareholder T. Ananda Krishnan is facing bribery charges in India.

At 11.15am, Maxis was trading at RM5.49 after shaving 10 sen (1.74%), according to Bursa Malaysia.

Maxis started trading at RM5.59 before dipping to a low of RM5.46 before climbing back to RM5.49 on a volume of 191,400.

Earlier today, Times of India reported that Maxis major shareholder Ananda and aide, Ralph Marshall, have been named in a charge by Indian’s Central Bureau of Investigation (CBI) for alleged bribery in the Airtel-Maxis deal.

Also charged were 10 Indian politicians and government officials, including Congress leader P. Chidambaram and his son, Karti.

Chidambaram is alleged to have abused his power as finance minister in 2006 when Maxis applied to purchase a stake in Aircel. – July 20, 2018.