U Mobile today shared that Straits Mobile Investment Pte Ltd (wholly owned by ST Telemedia) has already agreed to a strategic alignment, reducing its shareholding to 20%. This move is also expected to increase the percentage of local ownership on U Mobile.
Previously, MCMC had chosen U Mobile to develop the second 5G network in Malaysia. Several things were said at that time, including regarding the ownership of foreign shares.
At the same time, U Mobile also emphasized that they have invested over RM5 billion in network infrastructure, and have over 10,000 network sites with a population coverage of 95% – comparable to other industry peers.
Regarding the financial position, U Mobile said they have strong financial support from shareholders, financial institutions such as UOB, CIMB and AmBank, as well as other collaboration partners.
U Mobile through a media statement issued today also emphasized that they are in the best position to become the country's second 5G network provider.