Malaysian telcos take full control of DNB

Malaysia’s major mobile operators have bought out the government’s remaining stake in Digital Nasional Berhad (DNB), taking full control of the country’s first 5G wholesale network.

MOF Inc., the Finance Ministry’s investment arm, had held a 41.67% stake in DNB since May 2025. That position grew after U Mobile exited as a shareholder to meet conditions tied to its license to build Malaysia’s second 5G wholesale network. MOF Inc has now sold its shares in DNB to CelcomDigi, Maxis, and YTL Power, completing the government’s exit and shifting ownership of the state-created 5G vehicle fully into private hands.