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Telekom Malaysia has now announced that they have received a cancellation notice from Digital Nasional Berhad in relation to the share purchase agreement. With this, TM will not have a stake in DNB. Previously, DNB had given a period of time until August 21, 2024 for TM to give an answer and subscribe for a shareholding in DNB, but the period was not sufficient for TM to hold a meeting with board members and obtain approval to buy DNB shares.
Telekom Malaysia stated that this will not affect their current 5G offering, as the service subscription agreement from DNB is still in place. TM also said they are committed to offering high quality digital services to customers.
With this change, only CelcomDigi, Maxis, YTL and U Mobile have a stake in DNB, each of 16.3%.
TM however did not inform about how it will impact their participation in the tender bid for the development of Malaysia's second 5G network. Previously, the Minister of Communications, Fahmi Fadzil stated that the tender selection process will consist of telecommunications companies that have completed the SSA process for DNB equity ownership.
Previously, it was shared that Maxis, CelcomDigi, TM and U Mobile had submitted bids to develop Malaysia's second 5G network.