Maxis Bhd's share price fell 11 sen to RM6.84 as at 11.26am today, despite news that it would enter a 10-year partnership with exclusivity for Astro to be the Internet Protocol television (IPTV) content service provider for three years.
Maxis Chief Executive Officer Sandip Das said both parties are currently in the midst of developing the packages and would co-market the packages.
Both companies are expected to jointly develop as well as co-market the consumer packages targeted to be launched in phases to the market by year-end.
Kenanga Research said the landmark strategic partnership would enable both companies to leverage on the synergies of each party's strengths and experiences.
"The ultimate package prices and contents will likely be the two key factors to determine the joint package take-up rate going forward," it said in a research note today.
The research house maintains a "market perform" call on Maxis with an unchanged target price of RM7.35. -- Bernama
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