In line with the government's announcement to build a dual 5G network, now Celcom Mobile and DigiTel together under CelcomDigi announced that they have canceled the DNB share purchase agreement.
Previously, Celcom and Digi had agreed to buy DNB shares, at the same time having equity under the sole provider of 5G networks in Malaysia. However, now CelcomDigi chose to cancel the agreement.
Through a filing on the Bursa, CelcomDigi stated that they canceled the agreement because the period to fulfill various conditions under the agreement had expired.
CelcomDigi stated that this cancellation will not have a significant impact on CelcomDigi's revenue for 2023.
Previously, earlier today when announcing the transition to a 5G dual network model, it was also shared that the composition of the service providers in Entity A and Entity B will be decided later, where Entity A will continue with DNB, while Entity B will form a second 5G network as early as January 2024 later.