Malaysia telcos sign deals to take up stakes in state 5G agency

FIVE Malaysian mobile operators have signed a deal to take up stakes in the country’s state-owned 5G agency, Digital Nasional (DNB), the government said on Friday (Dec 1).

The move comes ahead of the government’s plan to switch to a dual network model from next year, as it looks to dismantle a monopoly held by DNB.

Maxis, CelcomDigi, Telecom Malaysia, U Mobile and YTL Communications will each pay about RM233 million (S$66.5 million) to take up to 70 per cent equity in DNB, the agency said in a statement.

Communications Minister Fahmi Fadzil said the firms will assist the state agency to reach 80 per cent network coverage by the end of the year, after which some of the firms would separate from DNB to form a second 5G network.

The government will retain a 30 per cent share in DNB, but will not take a stake in the second unit, Fahmi told reporters at a signing ceremony. REUTERS