Telekom Malaysia has now announced that they have received a cancellation notice from Digital Nasional Berhad about the share purchase agreement. With this, TM will not have a stake in DNB. Previously, DNB had given a period until August 21, 2024, for TM to provide an answer and subscribe for a shareholding in DNB. Still, the period was not sufficient for TM to hold a meeting with board members and obtain approval to buy DNB shares.
For your information, Telekom Malaysia stated that this will not affect their current 5G offering, as the service subscription agreement from DNB is still in place. TM also said they are committed to offering high-quality digital services to customers. With this change, only CelcomDigi, Maxis, YTL, and U Mobile have a stake in DNB, each of which is 16.3%.
In addition, TM however did not inform about how it will impact their participation in the tender bid for the development of Malaysia's second 5G network. Previously, the Minister of Communications, Fahmi Fadzil stated that the tender selection process will consist of telecommunications companies that have completed the SSA process for DNB equity ownership.
Previously, it was shared that Maxis, CelcomDigi, TM and U Mobile had submitted bids to develop Malaysia's second 5G network. We have yet to confirm other details on the subject. Hopefully, everything will be resolved soon.
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