Malaysia’s communications minister rejected speculation operators were reluctant to take equity stakes in Digital Nasional, the entity established to run a single 5G wholesale network, after announcing two companies forged deals.

Minister of Communications and Multimedia Annuar Musa told the national news agency Bernama all operators are still in negotiations with Digital Nasional and have until the end of June to finalise deals.

Musa told the news agency reports stating only two companies had been able to agree equity stake deals were “inaccurate”.

He explained Telekom Malaysia (TM) and YTL Communications had reached deals covering stakes and also service agreements.

In March, Malaysia’s government unveiled plans to allocate up to 70 per cent equity in Digital Nasional to telecoms operators, which all backed the move.

Last month, Celcom Axiata, Digi, Maxis and U Mobile explained in a joint statement each was working to finalise wholesale agreements, but had yet to agree to key terms.

The controversial plan for a single 5G wholesale network managed by a special purpose vehicle was revealed by Prime Minister Muhyiddin Yassin in 2021.