Today, The Edge reported that U Mobile has agreed to sell its entire 100,000 shares in Digital Nasional Bhd (DNB) for RM100,000. The shares will be acquired by CelcomDigi, Maxis, YTL Power International, and the Minister of Finance Inc (MOF Inc), according to filings with Bursa Malaysia.
From the news source, CelcomDigi, Maxis, and YTL Power will each purchase 33,333 shares, while MOF Inc will acquire one share as per the agreement. This transaction increases MOF Inc’s stake in DNB from 34.88% to 41.67%, following Telekom Malaysia Bhd’s withdrawal from its planned investment. The three telcos will each hold a 19.44% stake, up from 16.28% previously.
A variation agreement signed on May 13 modifies the original shareholders' agreement from June 28, 2024, and is expected to be completed by May 30, 2025. Under the revised terms, U Mobile relinquishes its rights to exercise put or call options. In November last year, U Mobile was appointed by the government to deploy the second 5G network, following the government’s decision to adopt a dual 5G network model to encourage competition.
Last month, U Mobile appointed Huawei Technologies and ZTE as its technology partners to deploy Malaysia’s dual network model. On top of that, U Mobile also announced EdgePoint as its preferred 5G in-building solution infrastructure partner, and will work with CT Sabah as the new fibre leasing partner for its Next Gen 5G network rollout in Sabah and WP Labuan.
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