Malaysian authorities made progress in divvying up ownership of a controversial national 5G wholesale network as four major operators agreed to acquire a combined 65 per cent stake.

Celcom Axiata, Telekom Malaysia and YTL Communications will each take a 17.5 per cent stake in Digital Nasional Berhad (DNB). Digi Malaysia signed up for 12.5 per cent, with the Ministry of Finance retaining 35 per cent.

Digi’s holding will increase to 17.5 per cent if a proposed merger with Celcom doesn’t close by mid-2023, with the Ministry’s stake dropping to 30 per cent.

The operator agreed to pay MYR178.5 million ($38.4 million) for its stake.

Digi stated all stakeholders made significant progress in discussions related to the access agreements and regulatory framework.

Maxis and U-Mobile previously declined to take stakes in DNB, forcing it to renegotiate shareholding arrangements with the remaining operators.