On Thursday, Communications and Multimedia Minister Annuar Musa said Malaysia would unveil a plan to sell a 70% stake in the state-run 5G agency to six companies by next week.
The Malaysian government intended to finalize discussions on the sale of the stake in Digital Nasional Berhad by the end of June.
As recently reported, Malaysia’s four largest telecommunications companies were vying for a controlling stake, resisting a government proposal to offer them minority ownership.
Minister Annoir said that an official announcement could be made next week and that discussions were proceeding according to plan.
“They have reached a certain understanding and everything will be concluded by next week, by the eighth of July,” Annoir told reporters.
No other details were given.
Celcom Axiata Bhd, DiGi Telecommunications, Maxis Bhd and U Mobile sought to acquire a combined controlling stake.
The companies will also be reviewing the pricing scheme and network access plan offered by the 5G agency, according to a letter sent by the firms to the Treasury Department.
In addition, Malaysia’s plans for 5G are compounded by the quandary between DNB and the four big players in pricing and transparency, in particular that a single government-owned network would lead to a nationalized monopoly.
Only two smaller providers Telekom Malaysia and YTL Communications have agreed to the government’s 5G plan.
Telekom Malaysia CEO Imri Mokhtar said the company is finalizing discussions on its DNB stake.
“We will make an announcement once any deal is finalised,” he added.
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