Fahmi: Telcos have 20 days to finalise DNB share subscription agreement

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DNB Share Subscription Agreement News

Telcos,Fahmi Fadzil,5G Network Distribution Rights

PUTRAJAYA, May 21 — Telecommunication companies will have 20 days to finalise the remaining share subscriptions of Digital Nasional Berhad, Communications Minister Fahmi Fadzil...

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Communications Minister Fahmi Fadzil speaks at a press conference at his ministry in Putrajaya, May 22, 2024. — Picture by Shafwan ZaidonPUTRAJAYA, May 21 — Telecommunication companies will have 20 days to finalise the remaining share subscriptions of Digital Nasional Berhad, Communications Minister Fahmi Fadzil revealed today as the Anwar government expressed hope the firms would sign on the deal to keep the 5G network distribution rights government-owned despite initial hesitation.

Several major telcos were reportedly resistant to the share subscription agreement presented by Putrajaya which led negotiations to drag on, fuelling speculation that the deal could fall and ultimately collapsing the DNB project. Fahmi said the 20-day deadline, a Cabinet decision, had been conveyed to directors from each telco company at a high-powered meeting yesterday, which the minister suggested was reached now that 5G coverage has reached up to 81.5 per cent nationwide.

 

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