U Mobile to reduce foreign majority shareholdings to 20%

KUALA LUMPUR: U Mobile Sdn Bhd, which has been selected to implement the country’s second 5G network, will reduce its foreign majority shareholding to 20 per cent to ensure greater Malaysian control and invite participation from local investors.

In a statement today, the telecommunication provider said the move was aligned with its commitment to the national agenda.

“With a proven track record spanning more than 17 years, U Mobile is well-positioned for the second 5G network rollout.

“Our dedication to accessible and innovative services has earned us numerous accolades, including being named ‘Malaysia Mobile Services Company of the Year’ by Frost & Sullivan six times. U Mobile has also been recognised for offering the fastest overall internet speeds in Malaysia,” it said.

Currently, U Mobile subscribers consume the most 5G capacity in the country compared to other service providers.

Yesterday, the Malaysian Communications and Multimedia Commission (MCMC) announced the selection of U Mobile after conducting a detailed technical and commercial evaluation.

U Mobile said it is excited to collaborate with various stakeholders, including MCMC and other telecommunications companies such as CelcomDigi and Telekom Malaysia to deliver world-class 5G advanced services to consumers.

It has been proactively engaging with leading global technology providers including Huawei, and will also be working with Digital Nasional Bhd to ensure consumers continue to enjoy the best 5G experience.