KUALA LUMPUR: 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 per cent from 49 per cent, 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.

According to BERNAMA News Agency, U Mobile’s strategy prioritises Malaysian industry development and strengthening of local ownership despite foreign ownership being common in the telecommunications sector. This increased local partnership supports U Mobile’s dedication to national interests. U Mobile expressed confidence that the second 5G network will lead to improved and more affordable services for the public through healthy and sustained competition.

U Mobile also stated it will continue to innovate products and services while actively deploying t
he second 5G network, assuring all stakeholders that it will remain well-supported without reliance on government funding.