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BUSINESS

Celcom to meet negotiation process deadline with DNB on 5G network

26/05/2022 06:48 PM

KUALA LUMPUR, May 26 (Bernama) -- Celcom Axiata Bhd will try to meet the negotiation process deadline with Digital Nasional Bhd (DNB) on a service agreement for the implementation of the country’s 5G network.

President and group chief executive officer Axiata Group Bhd Datuk Izzadin Idris said the company was given until June 30, 2022 to finalise the process.

“We are trying our best to meet the deadline process (of negotiations),” he told a press conference in conjunction with its annual general meeting (AGM) today. 

According to media reports, Celcom Axiata, DiGi Telecommunications, Maxis Bhd and U Mobile are eyeing a majority stake in a state 5G agency.

Communications and Multimedia Minister Tan Sri Annuar Musa reportedly said negotiations between telecommunication companies (telcos) and DNB were underway and the companies were in the process of negotiating the price or value of equity offered.

On another note, Axiata chairman Tan Sri Shahril Ridza Ridzuan has confirmed that shareholders have approved the proposed acquisition of a 66.03 per cent stake in Indonesia's PT Link Net Tbk (LinkNet).

During the extraordinary general meeting held today, he said a majority of shareholders agreed to the proposed acquisition for 8.72 trillion rupiah (RM2.55 billion).

“A majority 57.83 per cent voted for it while 42.17 per cent voted against it,” he said.

Meanwhile, Izzadin said acquiring LinkNet will enable Axiata to strengthen its market position, reinforcing its strategic move into the under-penetrated fixed broadband market, and fuel its Indonesian expansion.

At the press conference, Axiata also launched its Net Zero Climate Action Roadmap, with the aim to achieve net-zero emissions no later than 2050, with a near-term 2030 target to reduce operational carbon emissions by 45 per cent 

“Guided by the roadmap, Axiata will embark on a three-pronged strategy to accelerate decarbonisation of its network operations, accelerate the transformation of its value chain and deliver an inclusive climate agenda,” Izzadin said.

--BERNAMA

 

 


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