Malaysia’s four telecoms majors to explore equity stake offer in state 5G agency

FILE PHOTO: A salesperson at a telecommunications store uses a phone in Kuala Lumpur
FILE PHOTO: A salesperson at a telecommunications store uses a phone in Kuala Lumpur, Malaysia, January 6, 2022. REUTERS/Hasnoor Hussain NO RESALES. NO ARCHIVES/File Photo

March 24, 2022

KUALA LUMPUR (Reuters) – Malaysia’s four major telecoms firms will explore the government’s offer of an equity stake of up to 70% in the state 5G agency Digital Nasional Berhad, they said in a joint statement on Thursday.

Axiata Group’s Celcom, DiGi, Maxis and U-Mobile said they “look forward to an approach that is typical of any major mergers and acquisitions process”.

(Reporting by Liz Lee; Editing by Kanupriya Kapoor)