News & Reviews:   Share purchase agreement

U Mobile has announced a significant shift in its ownership structure after the completion of a Share Purchase Agreement between Singapore Technologies Telemedia and Mawar Setia Sdn. Bhd.. Following the deal, Mawar Setia now holds more than 50% stake in U Mobile, marking a move toward stronger Malaysian ownership in one of the country’s key mobile and broadband providers.

The proposed merger between two of Malaysia’s biggest telco companies, Celcom and Digi has been in the works for quite some time now. Previously, we reported that the merger is set to be completed in the second half of 2022 but now, it seems that it may extend for a bit longer as the long stop date for their share purchase agreement (SPA) has been extended to 31 December 2022.