PETALING JAYA: The original Digital Nasional Bhd (DNB) share distribution contract agreed to by the government and Cabinet needs to be redrawn now that two telco companies have pulled out, says communications and multimedia minister Annuar Musa.
He said the process could take up to two weeks as there needed to be discussions on how best to redistribute the shares now that there was no longer a majority.
“One way is for the four others (telcos) to be given larger shares. However, this will take time as they will need to discuss it with their respective board members,” he said at a press conference.
Annuar today said another possibility was to invite other private telco companies to take up the remaining shares which were being considered by the finance ministry.
Yesterday, finance minister Tengku Zafrul Aziz confirmed that the ministry will hold a 30% share in DNB, a reduction from the earlier 100% stake.
When asked whether the remaining 70% will be divided among the remaining MNOs, Zafrul said it was still being considered.
Zafrul yesterday said that Telekom Malaysia Bhd (TM) and YTL Communications Sdn Bhd (YES) have obtained approval from their board members and were ready to sign an agreement to subscribe to DNB shares for the 5G rollout in Malaysia.
Digi.com Bhd and Celcom Axiata Bhd, meanwhile, still needed the approval of their board members to decide whether to increase their equity stake in DNB, he said.
It was previously reported that Maxis and U Mobile had declined the offer to take stakes in DNB.
MORE TO COME - FMT
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