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 Berhad (DNB), the government said on Friday.
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 Berhad, CelcomDigi, Telekom Malaysia, U Mobile and YTL Communications will each pay about 233 million ringgit ($49.88 million) to take up to 70% equity in DNB, the agency said in a statement.
Communications Minister Fahmi Fadzil said the firms will assist the state agency to reach 80% 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% share in DNB, but will not take a stake in the second unit, Fahmi told reporters at a signing ceremony.