Malaysian telco U Mobile sold its entire 16.28% stake in 5G wholesale operator Digital Nasional Bhd (DNB) on Tuesday to DNB’s remaining shareholders – CelcomDigi, Maxis, YTL Power International and the Minister of Finance (MOF) – for MYR100,000 (US$23,176).
According to filings submitted by CelcomDigi and Maxis to Bursa Malaysia, both telcos bought 33,333 shares from U Mobile for 1 ringgit per share, as did YTL Power. The MOF acquired the remaining single share for the same unit price.
U Mobile, CelcomDigi and Maxis finalised their share subscription agreements (SSAs) to acquire stakes in DNB in June 2024. Five months later, U Mobile won the rights to implement Malaysia’s second 5G network to compete with DNB. Under the terms of the SSAs, whoever won the rights for the second 5G network would be required to relinquish its stake in DNB.
The sale – scheduled to be completed at the end of this month – will see CelcomDigi, Maxis and YTL Power increase their individual DNB stakes from 16.28% to 19.44%, while the MOF will hold the remaining 41.67% of the company, up from 34.88% before U Mobile's exit.
The filing also said that the MOF will sell its sell its shares in DNB to CelcomDigi, Maxis and YTL Power within one month after November 12, 2025, unless all shareholders agree on a different date.
