16 May 2023
Telekom Malaysia has pulled out of its deal to acquire shares in state-owned 5G wholesale company Digital Nasional Berhad (DNB) after the government revealed plans to deploy a second 5G network.
In a statement, Telekom Malaysia said that it had notified the Malaysian bourse of the termination of its deal with DNB. The deadline to fulfil all conditions for the Share Subscription Agreement of 20% equity in the 5G wholesale company has passed. Subscribers will continue to access their 5G services as the 5G wholesale access agreement remains in place.
However, Telekom Malaysia said it will continue to take part in 5G development and is in discussion with the government and industries. Malaysia is currently in phase one of its 5G plan – spreading coverage to 80% of populated areas, and phase two will be the shift to a dual 5G network system.
