KUALA LUMPUR - Digital Nasional Bhd (DNB) has announced the completion of share subscription agreements (SSAs) with four mobile network operators (MNOs).
They are CelcomDigi Bhd through Infranation Sdn Bhd, Maxis Broadband Sdn Bhd, U Mobile Sdn Bhd and YTL Communications Sdn Bhd through YTL Power International Bhd, said DNB in a statement today.
It said under the terms of the SSAs, the four MNOs collectively acquired approximately 65.1 per cent equity stake in DNB, with each MNO holding approximately 16.3 per cent stake.
"The Malaysian government, represented by the Minister of Finance (Incorporated) (MoF Inc.), retains approximately 34.9 per cent stake and a Special Share in DNB for a designated period.
"This follows the satisfaction of the conditions precedent under the SSAs on June 20, 2024 for all four MNOs to increase their equity stake in DNB,” said DNB.
For Telekom Malaysia Bhd (TM), the conditions precedent longstop date is August 21, 2024.
DNB said assuming 5that TM completes the SSA, MoF Inc.’s stake will reduce to 30 per cent, with the MNOs collectively holding a 70 per cent stake in DNB.
On Dec 1, last year, DNB and MoF Inc. entered into SSAs with five MNOs, thereby enabling the MNOs’ participation in DNB through equity ownership.
DNB said it remains focused on delivering a world-class 5G network and driving 5G adoption nationwide to realise Malaysia’s digital aspirations. - BERNAMA