KUALA LUMPUR (July 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

Maxis Bhd (KL:MAXIS) is  considering buying out U Mobile Sdn Bhd to help it expand in Malaysia, according to people with knowledge of the matter. Maxis has expressed interest in U Mobile and talks are at an early stage, the people said, asking not to be identified discussing private information. Businessman Tan Sri Vincent Tan Chee Yioun and Temasek Holdings Pte Ltd-backed Singapore Technologies Telemedia Pte Ltd are among U Mobile’s major shareholders. Pricing could be a hurdle to a potential buyout, with U Mobile’s owners seeking a valuation of more than RM10 billion, according to the people. There’s no guarantee that a deal will be reached, they said. — Maxis mulling U Mobile buyout, Bloomberg reports

The takeover offer for Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) is expected to be finalised in the third quarter of this year, and will need to be approved by at least 90% of MAHB's existing shareholders, the Ministry of Finance said. The ministry said that since the offer is a commercial transaction, it would not have any financial implications for the government. The ministry added that the government will continue to monitor this development and ensure that whatever decision reached later must be made in accordance with the laws and regulations currently in force. — MAHB takeover offer expected to be finalised in 3Q, says MOF

Construction company Vestland Bhd (KL:VLB) is acquiring office suites in Selangor and industrial warehouses in Sabah for a total of RM25 million. Its wholly-owned subsidiary Vestland Resources Sdn Bhd has signed 10 sales and purchase agreements (SPAs) with Sg Besi Construction Sdn Bhd for the acquisition of 10 office suites at Subplace Boulevard, Shah Alam, for RM6.99 million. It also signed six SPAs for a sum of RM18 million to acquire six semi-detached industrial warehouses to be constructed at the Armani Business Park, Kota Kinabalu, with completion expected by December 2024. — Vestland to acquire office suites, warehouses for RM25 mil

Sarawak Cable Bhd (KL:SCABLE) said its chief financial officer Teoh Wen Jinq has resigned. The company said Teoh stepped down due to personal reasons, without elaborating. Teoh is a member of the Malaysian Institute of Accountants and fellow member of the Chartered Association of Certified Accountants. She also has more than 15 years of experience in audit firms and commercial companies in various capacities including accountant, company secretary and group financial controller. — Sarawak Cable's chief financial officer resigns