He said an official announcement would be made next week, adding that all was going “according to plan”.

“Negotiations took place and an understanding was reached. Everything will be concluded by July 8,” he told reporters at an event here.

“Everybody will be on board.”

Asked about matters concerning transparency and pricing, Annuar said: “They have been sorted out.”

Yesterday, Singaporean daily The Straits Times reported that a non-binding term sheet had been agreed upon by six telcos ahead of the government’s deadline today to accept the offer to take up stakes in DNB.

DNB, a government-owned company appointed to deploy the 5G infrastructure and network nationwide, had offered the major telcos in the country equal stakes totalling as much as 70% by June 30. Telekom Malaysia Bhd and YTL Communications Sdn Bhd had already signed an agreement to take an equity stake in DNB.

However, the top four carriers, Celcom Axiata Bhd, DiGi.com Bhd, Maxis Bhd and U Mobile Sdn Bhd, reportedly wanted a 51% majority stake instead.

The Straits Times’ report said the four mobile network operators were dragging their feet and insisting on favourable terms to maintain control of an industry crucial to the national economy in the post-pandemic recovery.

The negotiations have been closely watched due to the huge impact on the future of mobile connectivity in the country, with Annuar threatening to open the door to other players if existing telcos – some of which had complained of unfair terms – did not sign up to what would be Malaysia’s only 5G wholesale provider.

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