TM issues termination notice relating to acquiring 20pct of DNB

Telekom Malaysia Bhd (TM) has issued a termination notice to Digital Nasional Bhd (DNB), effective immediately, pursuant to the terms of the share subscription agreement (SSA) to subscribe to a 20 percent equity stake in DNB.

This was after the longstop date to fulfil all conditions precedents (CPs) under the SSA lapsed, it said in a filing with Bursa Malaysia yesterday.

It said the termination of the SSA is not expected to have any significant effect on earnings, net assets, and gearing of TM Group for the financial year ending Dec 31, 2023.

“TM customers will continue to enjoy 5G services and solutions as the 5G wholesale access agreement with DNB remains intact,” it said.

Meanwhile, in separate a statement, TM said it looks forward to the next process and discussion with the government and the industry on 5G participation across Phase 1 (towards 80 percent service coverage by DNB) and Phase 2 (shift to two networks) as announced on May 3.

“TM is committed to continue playing an active role in the 5G implementation, leveraging its nationwide fibre infrastructure, extensive digital platforms (data centre, edge nodes), and rollout experience,

“We are committed to shaping a Digital Malaysia through technology that empowers communities, businesses and government,” it added.

- Bernama

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