Telekom Malaysia (TM) has terminated its share subscription agreement (SSA) for a 20 percent equity stake in Digital Nasional Berhad (DNB), according to the Bursa announcement (local exchange) filed on May 10, 2023. The announcement stated that the longstop date for fulfilling all conditions precedent in the SSA had lapsed, resulting in TM issuing a termination notice to DNB with immediate effect.
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TM Remains Committed to 5G implementation
Despite the setback, TM remains committed to playing an active role in 5G implementation and looks forward to discussions with the government and industry on 5G participation in Phase 1 (towards 80 percent service coverage by DNB) and Phase 2 (shift to two networks), as announced by the government on May 3, 2023.
The company plans to leverage its nationwide fibre infrastructure, extensive digital platforms (data centre, edge nodes), and rollout experience to support the effort.
Continuity of 5G Services for TM Customers
According to the statement, TM has also confirmed that its customers of Unifi Mobile and TM One will continue to enjoy 5G services and solutions as the 5G wholesale Access Agreement remains in place.
In a statement, TM reiterated its commitment to serving as a trusted partner to grow Malaysia's overall connectivity and digital ecosystem, including 5G. The company aims to shape a Digital Malaysia through technology that empowers communities, businesses, and government.
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TM Joins Other Companies in Terminating SSAs with DNB
Telekom Malaysia (TM) has joined the ranks of companies withdrawing from an agreement to acquire an equity stake in Digital Nasional Berhad (DNB). Following the government's recent announcement permitting the deployment of a second 5G network, TM, along with Celcom and Digi Telecommunications, terminated their respective share subscription agreements (SSAs) with DNB, effective from May 3, 2023.