DNB completes share subscription agreements with mobile network operators

  • CelcomDigi, Maxis, U Mobile, YTL Communications hold combined 65.1%
  • TM needs up till 21 Aug to get shareholder approval for its 4.9% stake

The senior executives of CelcomDigi, Maxis, Telekom Malaysia, U Mobile and YTL Communications at the signing of Share Subscription Agreements with Digital Nasional Bhd on 1 Dec 2023.

Seven months after Digital Nasional Bhd (DNB) and Minister of Finance (Incorporated) (MoF Inc) entered Share Subscription Agreements (SSAs) with five Malaysian mobile network operators (MNOs), 1 Dec 2023, for their participation in DNB through equity ownership, DNB said it has concluded the SSAs with four MNOs, namely CelcomDigi Bhd through Infranation Sdn Bhd, Maxis Broadband Sdn Bhd, U Mobile Sdn Bhd and YTL Communications Sdn Bhd through YTL Power International Bhd.

According to DNB, under the terms of the SSAs, the four MNOs collectively acquired approximately 65.1% equity stake in DNB, with each MNO holding approximately 16.3% stake. The Malaysian Government, via MoF Inc, retains approximately 34.9% stake and a Special Share in DNB for a designated period.

DNB explained that the completion of the SSA follows the satisfaction of the conditions precedent under the SSAs on 20 June 2024 for all four MNOs to increase their equity stake in DNB. For Telekom Malaysia Bhd (TM), the conditions precedent longstop date is 21 August 2024. Assuming TM successfully completes the SSA, MoF Inc.’s stake will reduce to 30%, with the MNOs collectively holding a 70% stake in DNB.

DNB reiterated its focus on delivering a world class 5G network and driving 5G adoption nationwide to realise Malaysia’s digital aspirations.


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