Reuters: Financial Services and Real Estate: Malaysian tycoon Ananda Krishnan exploring pay-TV IPO-sources

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Malaysian tycoon Ananda Krishnan exploring pay-TV IPO-sources Mar 29th 2012, 07:05 KUALA LUMPUR, March 29 | Thu Mar 29, 2012 3:05am EDT KUALA LUMPUR, March 29 (Reuters) - Malaysian tycoon Ananda Krishnan is exploring proposals from investment banks to list Astro All Asia Networks after the country's sole pay-TV monopoly was delisted in a $2.6 billion deal in 2010, sources told Reuters on Thursday. One of the sources, an official with Usaha Tegas, a special purpose vehicle controlled by Ananda, said no decision has been made on the re-listing. The company was taken private in 2010 after a loss-making overseas expansion. Bloomberg earlier cited sources as saying the IPO could raise about $1.5 billion as soon as the end of this year. Another source close to the deal told Reuters the IPO was more likely to happen next year, if Ananda agreed to the deal, because there were other key listings this year and Malaysian elections could happen mid-year. No banks have been mandated for any deal, both sources told Reuters. Astro officials declined to comment on the matter. (Reporting by Niluksi Koswanage and Saeed Azhar in Singapore; Additional reporting by Yantoultra Ngui; Editing by Matt Driskill)

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