KUALA LUMPUR – The termination of the share subscription agreements (SSA) signed in November 2022 with Digital Nasional Bhd (DNB) as announced yesterday by CelcomDigi Bhd will clear the path for the network operator to participate in any new process, including equity participation, together with the industry.
In a statement today, the mobile network operator said Communications and Digital Minister Fahmi Fadzil’s announcement on the government’s decision to implement 5G under two networks once 80% 5G coverage of populated areas has been achieved by DNB yesterday is much welcomed.
“Following the government’s announcement on May 3, 2023, CelcomDigi also disclosed to shareholders via a statement to Bursa Malaysia that both Digi Telecommunications Sdn Bhd and Celcom Mobile Sdn Bhd have terminated previous respective SSA signed in November 2022 with DNB, effective May 3, 2023.
“As per the government’s announcement, the earlier process to subscribe to equity in DNB through the respective SSA is rendered void,” it said.
CelcomDigi said it also assured its customers that the process would not have any impact on its 5G services.
It said customers currently on 5G connections may continue to enjoy the service, according to ongoing product offers.
“CelcomDigi welcomes the opportunity to play a more active and direct role in the country’s 5G implementation, leveraging on our experience and resources, existing widest 4G network and supply chain and partner ecosystem to support the government’s 5G ambitions as we bring the best 5G solutions and offerings to Malaysian consumers and businesses,” it added. – Bernama, May 4, 2023
