State-owned Telekom Malaysia Bhd said there may be room for more mergers in Malaysia's cellular sector but an analyst Sunday ruled out any immediate merger activities.
"Telekom and Maxis will have to digest the acquisition that they have done. It is unlikely they will fork out more cash until they can extract profitability. We are unlikely to see any mergers in the next 12 months," a telecommunication analyst said on condition of anonymity.
Mohamad Khir Abdul Rahman, Telekom's chief executive said Saturday competition in the mobile industry had narrowed to three players.
