BUSINESS

FOUR MOBILE NETWORK OPERATORS EXECUTE DNB SUBSCRIPTION AGREEMENT

07/10/2022 10:07 PM

KUALA LUMPUR, Oct 7 (Bernama) -- Four mobile network operators (MNOs) executed share subscription agreements (SSAs) for a total 65 per cent equity stake in Digital Nasional Bhd (DNB).

In a statement, DNB said Celcom Axiata Bhd and Digi Telecommunications Sdn Bhd took a 12.5 per cent stake each while YTL Communications Sdn Bhd (YES) and Telekom Malaysia Bhd (TM) took a 20 per cent stake each.

The government will retain the remaining 35 per cent and hold a golden share; it will grant various rights and privileges and cover areas such as ownership, sale, or transfer of shares on the part of the government, the statement said.

DNB said under the terms of the SSA and the agreed governance structure between the parties, no single MNO can hold more than a 20 per cent stake and in the event of a merger, the merged entity cannot hold more than a 25 per cent stake in DNB.

"This marks a positive development following extensive discussions between the MNOs and DNB. It is anticipated that the MNOs will make 5G services available to their end users from October 2022 onwards," it added.

DNB chairman Datuk Seri Asri Hamidon said as of today, the 5G network has achieved 33 per cent coverage of populated areas against a target of about 40 per cent by end-2022.

"The testing and integration of 5G sites by the MNOs have progressed well and they are ready to provide 5G services to end-users in areas where 5G infrastructure is currently available.

"In addition, the local 5G ecosystem has grown rapidly, with 12 device brands now offering more than 100 5G-compatible models for use in Malaysia," he said.

-- BERNAMA


 


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