KUALA LUMPUR: U Mobile announced that it has completed the share subscription agreement (SSA) with Digital Nasional Berhad (DNB) and Minister of Finance (Incorporated) (MoF Inc), and has signed the shareholders' agreement (SHA) for equity stake in DNB.
The company said this reflects its full support of the government's ambition to transition to a dual 5G network model to drive competition and ensure sustainability of the telecommunications industry in Malaysia.
"U Mobile is delighted to have completed the SSA and signed the SHA with DNB to pave the way for the nation's transition to a dual 5G network model. We are committed to play a critical role in developing Malaysia's digital economy, by encouraging 5G adoption and showcasing its benefits to consumers, enterprises and the public sector," said U Mobile chief executive officer, Wong Heang Tuck.
"With the strength of our track record, expertise and futureproofed network infrastructure, we believe we are well-positioned to roll out Malaysia's second 5G network," he said.
U Mobile has grown from strength to strength in the last decade through its innovative product offerings and accessible pricing that has brought value to Malaysians.
The telco also has a demonstrated track record of aggressive 4G rollout, with its national population coverage growing from 50 per cent in 2017 to 95 per cent at the end of Q1 2024. Its subscriber base has also grown to over 9 million at the end of 2023.