By Rozanna Latiff
KUALALUMPUR – 4 of Malaysia’s main telecommunications corporations have agreed to take stakes in government-owned 5G company Digital Nasional Berhad (DNB), the company stated on Friday.
The announcement comes after months of delayed talks between the companies and the federal government, which in February had provided 70% of DNB‘s stake to 6 operators in a bid to resolve an deadlock over the company’s 5G pricing and rollout plans.
Two main operators – Maxis Bhd and U Cellular – dropped out of the negotiations in August, disrupting the federal government’s plans to signal agreements with the opposite carriers, Reuters had reported.
DNB stated in an announcement 4 corporations – Celcom Axiata, DiGi Telecommunications, YTL Communications, and Telekom Malaysia – had agreed to take up a complete of 65% fairness within the company, with the federal government holding the remaining 35%.
The federal government’s “Golden Share” would grant it varied rights and privileges, and covers areas reminiscent of possession, sale, or switch of shares, DNB stated.
YTL Communications and Telekom Malaysia would every take 20% fairness in DNB, whereas Celcom Axiata and Digi Telecommunications would take a 12.5% stake every, forward of a proposed merger between the latter two corporations.
DiGi stated in an announcement its stake would improve to 17.5% to be equal to the opposite three operators within the occasion the merger was not accomplished by mid-2023.
The proposed merger was given the inexperienced mild by Malaysian regulators earlier this yr.
DNB stated it was anticipated that the operators will make 5G providers obtainable to their finish customers from this month onwards, although it was nonetheless in talks with carriers on agreements to make use of the company’s community.
($1 = 4.6480 ringgit)
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