PETALING JAYA: The share distribution between Digital Nasional Bhd (DNB) and four mobile network operators (MNOs) for the 5G rollout, is expected to be completed by the end of the month.
Communications and multimedia minister Annuar Musa said discussions between DNB and Celcom Axiata Bhd, Digi.com Bhd, YTL Communications Sdn Bhd and Telekom Malaysia Bhd are in the final stages.
“Discussions with all four companies have proceeded smoothly and the agreement is expected to be finalised and signed by Sept 30,” he said in a statement.
He added that to facilitate equity participation, his ministry and the Malaysian Communications and Multimedia Commission (MCMC) will update some of the licence conditions for DNB.
“This is especially on those related to company holdings, since it will no longer be 100% owned by the government as the majority of its shares will be taken up by telecommunication companies, which agreed to the equity offer,” he said.
The agreement was finalised and ready to be executed by six MNOs on Aug 30, but later needed to be redrawn after a last-minute decision by two MNOs, Maxis and UMobile, to pull out.
Earlier, finance minister Tengku Zafrul Aziz confirmed that the ministry would only hold a 30% share in DNB. It originally owned 100% of the company.
Tengku Zafrul said Telekom Malaysia and YTL Communications had 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 and Celcom Axiata, meanwhile, still needed board approval on whether to increase their equity stake in DNB, he said. - FMT
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