Digital Nasional Berhad has now announced that four major telecommunication companies have already completed a share acquisition agreement, with each company obtaining a stake totaling 16.3% in DNB.
The four companies that got a stake are CelcomDigi through Infranation Sdn Bhd, Maxis Broadband Sdn Bhd, U Mobile Sdn Bhd, and also YTL Power International Bhd through YTL Communications Sdn Bhd. For now, only Telekom Malaysia has not completed this share acquisition agreement.
Initially, each company was expected to take a stake of 14%, but due to Telekom Malaysia's delay, each company now gets a stake of 16.3%. For shares held by representatives of the Ministry of Finance totaling 34.9%. The participation of Telekom Malaysia, which is expected to be completed around the end of August, will lead to a decrease in MOF Inc's (Ministry of Finance) stake to 30%, while the telecommunications company will have a stake totaling 70%.
Further to this, telecommunication companies are expected to make proposals regarding who will remain in DNB, and who will sell their holdings to form the country's second 5G service provider.