Straits Mobile investment agrees to reduce U Mobile shares to 20pct

Straits Mobile Investment Pte Ltd, a wholly owned unit of Singapore-headquartered ST Telemedia, has agreed to the strategic alignment of its shareholding ownership in U Mobile to 20 percent from 49 percent, thus increasing U Mobile’s Malaysian ownership.

U Mobile said it is ready to spearhead the second 5G network in line with national priorities by strengthening local engagement and participation in critical telecommunications infrastructure.