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☆ AirAsia unit heads for U.S. listing through SPAC deal as CEO says 'Americans understand branding'
▼ + stars: | 2024-02-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

AirAsia airplanes are pictured on the tarmac at Kuala Lumpur International Airport in Sepang on January 8, 2024. Malaysian conglomerate Capital A intends to sell its budget carrier business to medium- to long-haul affiliate AirAsia X in a major consolidation of the country's airline industry. Brand licensing opportunities could include hotels, mobile services and airlines in markets such as south Asia and Africa where AirAsia does not have subsidiaries, Fernandes said. The deal values the new company, Capital A International, at $1.15 billion, according to a release Wednesday. That will create a unified Air Asia Group, Fernandes said, which is targeting a $400 million equity raise, according to Reuters.

Persons: Tony Fernandes, —, " Fernandes, Fernandes Organizations: AirAsia, Kuala, Capital, AirAsia X, Nasdaq, CNBC, Asean, Malaysian, Berhad, Air, Air Asia Group, Reuters, Aetherium, International Locations: Kuala Lumpur, Sepang, U.S, Malaysia, Asia's, America, Southeast Asia, Asia, Africa, Malaysian, Air Asia

The strongly worded reaction from the Foreign Ministry insisted the vote was peaceful and successful. The U.S. State Department said that Thursday's vote was held under undue restrictions on freedoms of expression, association and peaceful assembly. In Thursday's vote, no political party gained a simple majority and independent candidates backed by imprisoned former Prime Minister Imran Khan took a lead in the vote count. Candidates backed by Khan’s Pakistan Tehreek-e-Insaf party won 100 out of the 266 seats up for grabs in the National Assembly. Also Saturday, the leader of a political party was wounded and two police officers killed in a clash in the country's northwest.

Persons: Imran Khan, Khan's, Nawaz Sharif, Khan, Mohsin Dawar, Zahid Khan Organizations: —, Foreign Ministry, U.S . State Department, European Union, National Assembly, Pakistan Muslim League Locations: ISLAMABAD, — Pakistan, Pakistan, North Waziristan

☆ Elon Musk's SpaceX plans a record 144 launches next year for Starlink's Direct to Cell service
▼ + stars: | 2023-10-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

The rockets will allow the rollout of Starlink's Direct to Cell service next year. The number of launches has steadily risen as SpaceX's Starlink satellite internet service has expanded. AdvertisementAdvertisementDescribed as "a cellphone tower in space" on its website, Direct to Cell will offer mobile services through Starlink satellites. Thank you to all of our customers around the world 🛰️🌎❤️ → https://t.co/D6L8BSisQq pic.twitter.com/jVfWTEfHkz — Starlink (@Starlink) September 23, 2023Though far ahead of its competitors, more are following Elon Musk into space. AdvertisementAdvertisementIn early October, Jeff Bezos' Amazon launched the first two prototype satellites in what will become its Project Kuiper internet service.

Persons: —, Musk, Elon Musk Organizations: Cell, Amazon, Service, SpaceX, Ars Technica, Ars

☆ Malaysia's switch to dual 5G network can allow participation of China's Huawei - PM
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Sept 27 (Reuters) - Malaysia Prime Minister Anwar Ibrahim said on Wednesday a switch to having a dual 5G network would allow for more effective participation by China's Huawei, providing his country with a balance of both Western and Eastern technology. Anwar on Wednesday acknowledged concerns from some countries over the "security and capacity" of technology stemming from China, but said the decision to allow a second 5G network was made so that Malaysia could benefit from different technologies. "After extensive discussion... we made the decision to allow for a dual network, and thus the decision for more effective participation by Huawei." State-run DNB partnered with Swedish telecoms giant Ericsson to roll out Malaysia's 5G network. It is unclear how Malaysia's plan for a second network would affect DNB's agreement with Ericsson or other mobile operators.

Persons: Anwar Ibrahim, Anwar, Rozanna Latiff, Martin Petty Organizations: Malaysia, Huawei, European Union, U.S, Financial Times, Digital Nasional Berhad, Ericsson Locations: KUALA LUMPUR, Malaysia, China, Kuala Lumpur

☆ Spectrum owner Charter calls pay-TV model broken as it battles Disney over blackout
▼ + stars: | 2023-09-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

That resulted in Charter's customers losing access to its networks, including broadcaster ABC and pay-TV channels such as ESPN and FX. These sorts of battles, which can lead to so-called blackouts for pay-TV customers, are common in the industry. They said they pushed for a revamped deal with Disney that would see Charter cable customers receive access to Disney's ad-supported streaming services like Disney+ and ESPN+ at no additional cost. "The [traditional TV] model has been very good to Disney," Pitaro said at CNBC x Boardroom's inaugural Game Plan sports business summit. Disney said Thursday that it has been able to secure successful deals with other pay-TV companies and is still committed to reaching an agreement with Charter.

Persons: Disney, Chris Winfrey, Winfrey, Bob Iger, Iger, Jimmy Pitaro, nix, Pitaro, didn't Organizations: Cable, Charter Communications, Disney, U.S ., ABC, ESPN, FX, Fort, CNBC, ESPN –, Plan Locations: U.S, New York, Los Angeles, Dallas, Fort Worth and Atlanta

CNN —Three US Marines who died when their Osprey aircraft crashed during a military exercise in Australia have been identified by their unit. Air Force CV-22 Ospreys take off from Kirtland Air Force Base, New Mexico, for a training mission. April 8, 2010: US Air Force Osprey crashes in southern Afghanistan, killing three US service members and one civilian employee. August 5, 2017: An MV-22B Osprey crashes off the coast of Australia, leaving three Marines dead. June 8, 2022: Five US Marines die after an MV-22 Osprey crashes during a training mission Wednesday near Glamis, California.

Persons: Corporal Spencer R, Captain Eleanor V, Major Tobin J, Lewis, Collart, LeBeau, “, ”, Brendan Sullivan, Lloyd Austin, Michael Murphy, Sullivan, ” Sullivan, Markus Maier, Samuel King An, Barack Obama, Zachary Dyer, Laura Yahemiak Sailors, George Washington, Supertyphoon Haiyan, Trevor Welsh, stow, Smith, drogue, Christopher Carranza An, Todd F, Lance Cpl, Christopher Mendoza Sailors, Richard, Kevin V, Jonathan Snyder, Cedric Leighton, Bellows Organizations: CNN, Marines, Osprey, Royal Darwin Hospital, AP US, USMC, Twitter, Marine Osprey, Darwin, Northern Territory Police, Australian Defence Force, Northern, Northern Territory Government, CareFlight Air, Mobile Services, NT Health, Care, Tiwi, Government, Air Force, Ospreys, Kirtland Air Force Base, . Air Force, Staff, Air, Special Operations Squadron, Munitions, Systems, Eglin Air Force Base, Tech, Refueler, Squadron, Marine Helicopter Squadron, KC, 130J, Marine Forces Pacific, Greenland . U.S . Air Force, 3d Marine Expeditionary, U.S . Marine Corps, Tiltrotor, Supertyphoon Haiyan . U.S . Navy, Trevor Welsh Sailors, U.S . Navy, Shannon, Travis Air Force Base, 24th Marine Expeditionary Unit, . Marine Corps, Michalek, Moron Air Base, Cunningham, Tactics Squadron, of, U.S . Air Force, US Air Force, “ CNN, US Defense Department, An Air Force, Corps Locations: Australia, Melville, Northern Territory, New Mexico, Florida, Philippines, VMM, Okinawa, Japan, Brisbane, Greenland . U.S, U.S, Supertyphoon Haiyan ., San Francisco, New York, Michalek U.S, Africa, Spain, Sigonella, Italy, Field, Hamilton Island, United States, Virginia, Arizona, North Carolina, Afghanistan, Morocco, Navarre , Florida, Oahu, Hawaii, Syria, Norway, Glamis , California

☆ Dish Network partners with Amazon to offer wireless services
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: 1 min

July 26 (Reuters) - Dish Network Corp (DISH.O) is partnering with Amazon.com (AMZN.O) to sell wireless postpaid service plans through its platform, and offer unlimited mobile services to Prime customers for a fixed price of $25 a month. Boost Infinite, a unit of Dish Network, said on Wednesday its Infinite SIM kit will be sold through Amazon in the United States, and will offer discounts to Prime members for unlimited talking, texting and data services. Talks of the U.S. satellite TV service provider's tie up with Amazon were first reported in May. Shares of Dish rose 8.5% in premarket trading. Reporting by Medha Singh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Medha Singh, Shinjini Organizations: Dish Network Corp, Dish Network, Amazon, U.S ., Thomson Locations: United States, Bengaluru

☆ Malaysia telecoms firms complete talks to take up stakes in 5G agency
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, July 21 (Reuters) - Malaysia said on Friday telecommunications firms CelcomDigi, Maxis, Telekom Malaysia, U Mobile and YTL Communications will take up stakes in state 5G agency Digital Nasional Berhad (DNB), following an agreement reached between the firms and the government on equity participation and 5G access. The announcement comes as mobile operators and the government look set to conclude protracted negotiations over Malaysia's 5G rollout plans. Malaysia had in 2021 announced that state-owned DNB would own the full 5G spectrum, with carriers using the infrastructure to provide mobile services. Mobile operators agreed in October last year to take up 70% of DNB's stake to resolve the impasse. Other carriers had signed the deal last year, paving the way for 5G services to be rolled out to customers.

Persons: Anwar Ibrahim's, Rozanna Latiff, Kanupriya Kapoor Organizations: CelcomDigi, Maxis, Telekom Malaysia, U Mobile, YTL Communications, Digital Nasional Berhad, Malaysia's, Mobile, Maxis Berhad, Thomson Locations: KUALA LUMPUR, Malaysia

Under the terms, Vodafone will own 51% and Hutchison 49% of the combined group, which will be led by current Vodafone UK boss Ahmed Essam. The finance chief of Hutchison's Three UK, Darren Purkis, will take the same role in the new group. The combined operator will have about 27 million customers, overtaking BT's (BT.L) EE and VM O2, jointly owned by Telefonica (TEF.MC) and Liberty Global (LBTYA.O). Vodafone, which is currently Britain's third-biggest mobile operator, and fourth-placed Hutchison will have options which would allow Vodafone to acquire the Hong Kong-based conglomerate's 49% stake in the future. Shares in Vodafone, which fell to a 25-year low of 71 pence on Tuesday, rose 3.6% after the deal was announced.

Persons: CK Hutchison, Canning Fok, Ahmed Essam, Darren Purkis, Hutchison, Vodafone's Essam, Robert Finnegan, Gail Cartmail, Paul Sandle, Clare Jim, Kate Holton, Sharon Singleton, Kirsten Donovan Organizations: Vodafone, CK, HK, Hutchison, Hutchison's, BT's, VM O2, Telefonica, Liberty Global, Britain's Competition, Markets Authority, CMA, Unite, Thomson Locations: HONG KONG, Britain, Hong Kong, China, London

The pan-European STOXX 600 index (.STOXX) ended 0.4% lower after a survey showed the U.S. services sector barely grew in May, while factory orders rose less than expected. "There's a bit of profit taking after some of the moves we've had recently," said Steve Sosnick, chief strategist at Interactive Brokers. "The economic reports that we've gotten around the world (signal) a somewhat slowing economy." Shares of Indivior Plc (INDV.L) jumped 7.8% to top the STOXX 600 index after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-Phillips, Dhanya Ann Thoppil and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: we've, Steve Sosnick, Christine Lagarde, Joachim Nagel, Shreyashi Sanyal, Sherry Jacob, Phillips, Dhanya Ann Thoppil, Richard Chang Organizations: PMI, Interactive, U.S . Federal, European Central Bank, Amazon.com Inc, Indivior Plc, Trendyol, Viaplay, Volvo, Copenhagen Stock Exchange, Thomson Locations: U.S, Alibaba, Swedish, Sweden, Bengaluru

"While it appears to be a hot number on the actual number of people employed, the wage rate is not increasing as fast," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. The data brought relief to investors who mostly expect the Fed to pause hiking rates at its policy meeting on June 13-14. But some pointed to the much hotter-than-expected jobs data as a sign the Fed still has not yet tamed inflation. All 11 S&P 500 sectors advanced, with the materials index (.SPLRCM) leading, up 3.4%, and the consumer discretionary sector (.SPLRCD), housing Amazon, close behind, rising 2.2%. The S&P 500 posted 15 new 52-week highs and two new lows; the Nasdaq Composite recorded 74 new highs and 40 new lows.

Persons: Kim Forrest, Phil Orlando, Nobody’s, Michael Landsberg, Herbert Lash, Shreyashi Sanyal, Shristi, Shashwat Chauhan, Nivedita Bhattacharjee, Maju Samuel Organizations: Amazon, Nvidia, Reserve, Labor Department, Bokeh Capital Partners, Fed, Federal Reserve, Federated Hermes, Reuters Graphics Reuters, Dow Jones, Nasdaq, Dow, Verizon Communications Inc, T Inc, Mobile US Inc, Inc, U.S, Verizon, Mobile, Nvidia Corp, Landsberg Bennett, Wealth Management, NYSE, Thomson Locations: Washington, Pittsburgh, New York, Punta Gorda , Florida, Bengaluru

☆ Amazon in talks to offer low-cost mobile services - Bloomberg News
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - Amazon.com Inc (AMZN.O) is in talks with several telecom providers to offer low-cost or possibly free mobile phone service to U.S. Prime subscribers, Bloomberg News reported on Friday, citing people familiar with the matter. Talks between Amazon and Dish were reported last week. The reported talks come as Amazon faces a slowdown in new sign-ups for the Prime service, its key loyalty program that offers subscribers faster shipping and video streaming. For telecom companies, a resell partnership with Amazon could serve as a means to attract new users and boost revenue. The details of the potential deals between Amazon and the telecom firms were not immediately known.

Persons: Tanya Jain, Akash Sriram, Yuvraj Malik, Nivedita Bhattacharjee Organizations: Amazon.com Inc, Bloomberg, Verizon Communications, Mobile US Inc, Dish Network Corp, Amazon, T Inc, Verizon, Mobile, Dish Network, Thomson Locations: Bengaluru

☆ Telecom stocks fall on report Amazon considers launching mobile service for Prime members
▼ + stars: | 2023-06-02 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is in talks with several wireless carriers about launching a mobile service for Prime members, according to a report from Bloomberg. The e-retailer is negotiating with Verizon, T-Mobile and Dish about the possibility of reselling their mobile services to its Prime members at low cost or potentially free, Bloomberg reported. Launched in 2005, Amazon Prime members pay $139 a year for access to free two-day shipping, access to exclusive movies and TV shows, as well as newer benefits like generic prescription discounts and Grubhub delivery perks. By partnering up with a company like Verizon or Dish, Amazon would essentially function as a mobile virtual network operator. Instead of owning its own wireless network, the company would purchase data from a large carrier and resell it to consumers.

Persons: Bradley Mattinger Organizations: Bloomberg, Verizon, Mobile, Dish, Amazon, CNBC, Walmart

☆ Amazon in talks with Verizon, others for low-cost mobile services -Bloomberg News
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - Amazon.com Inc (AMZN.O) is in talks with wireless carriers Verizon Communications (VZ.N), T-Mobile US Inc (TMUS.O) and Dish Network Corp (DISH.O) to offer low cost mobile services in the U.S., Bloomberg News reported on Friday. Bloomberg News also said Amazon has been negotiating to get the lowest possible wholesale prices that would let it offer Prime members wireless plans for $10 a month or possibly for free. Shares of Verizon, T-Mobile and AT&T were down about 6% in premarket trading on Friday. Shares of Dish Network, whose talks with Amazon were earlier reported in the media, were up 9%. Reporting by Tanya Jain, Akash Sriram and Yuvraj Malik in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Tanya Jain, Akash Sriram, Yuvraj Malik, Nivedita Organizations: Amazon.com Inc, Verizon Communications, Mobile US Inc, Dish Network Corp, Bloomberg, T Inc, Verizon, Mobile, Dish Network, Amazon, Thomson Locations: U.S, Bengaluru

That's exactly what the Fed would like to see," said Art Hogan, chief market strategist at B Riley Wealth in New York. The data brought relief to investors who now expect the Fed to skip an interest rate hike this month for the first time since starting its aggressive policy tightening more than a year ago. Fed funds futures trading showed an over 70% probability that the Fed will hold interest rates steady at its June 13-14 policy meeting. The S&P 500 communication services index (.SPLRCL), housing telecoms, fell 0.5% while the S&P 500 consumer discretionary sector (.SPLRCD), housing Amazon, soared 1.6%. The S&P 500 industrials sector (.SPLRCI) rose 1.4%, while Dow heavyweight Caterpillar (CAT.N) gained 3.7%.

Persons: Hogan, they're, FEDWATCH, Shreyashi Sanyal, Shristi, Nivedita Bhattacharjee, Maju Samuel Organizations: Amazon, Dow, Nasdaq, Federal Reserve, Labor, Riley, FEDWATCH Reuters Graphics Reuters, Dow Jones, Amazon.com Inc, Telecom, Verizon Communications, Mobile US Inc, Dish Network Corp, Caterpillar, NYSE, Thomson Locations: New York, United States, China, Bengaluru

☆ Telecom stocks drop on report that Amazon may offer mobile services to Prime members
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTelecom stocks drop on report that Amazon may offer mobile services to Prime membersWalter Piecyk, LightShed Partners analyst, joins 'Squawk on the Street' to discuss whether Amazon's willingness to offer mobile service to its U.S. Prime members will help the company in the long run.

Persons: Walter Piecyk Organizations: Email Telecom, LightShed Partners

☆ Telco tycoons’ UK bets look stuck underwater
▼ + stars: | 2023-05-25 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +5 min

Set those complications aside, however, and his stake-building may have cost about 4.2 billion pounds overall since 2021. That’s according to Breakingviews calculations which use the share price from the day before each stake increase became public. The holding is now worth 3.6 billion pounds, implying a nearly 560 million pound or 13% loss. That’s mild compared with some of Vodafone’s investors. But UK consolidation would hardly move the needle as Vodafone is haggling to retain control of the merged entity.

☆ BT to cut up to 55,000 jobs by 2030 as fibre and AI arrive
▼ + stars: | 2023-05-18 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

By that time, the bulk of its full-fibre network build will be completed. But free cash flow (FCF) fell 5% to 1.3 billion pounds, at the lower end of its guidance, due to increased cash capital expenditure. Forecasts for free cash flow for 2024 were also lighter than analysts had expected. It has been investing heavily to build out its fibre network faster than rival Virgin Media O2 and smaller "alt nets". BT said it expected to grow both revenue and core earnings on a pro forma basis this year.

Malaysia has now decided to allow a second entity after DNB's coverage reaches 80% of populated areas, Communications Minister Fahmi Fadzil said in a statement. The government's announcement confirmed a report by Reuters last month on a plan to introduce a second 5G network from January 2024. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. It has said a single network would reduce costs, improve efficiency and accelerate the building of infrastructure. It was not clear how the proposal for a second 5G network would affect DNB's existing agreements with its development partner, Swedish telecoms giant Ericsson (ERICb.ST), and other mobile operators.

☆ Huawei touts camera on latest premium smartphone without 5G
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

Huawei, also a major supplier of equipment used in 5G telecommunications networks, has been the target of successive rounds of U.S. export controls since 2019. The company's former budget unit Honor claimed 18% of the market last year, with 30% annual growth, Canalys said. Huawei sold Honor to a consortium of over 30 agents and dealers to keep it alive in late 2019. Huawei also launched the more premium P60 Pro and foldable Mate X3, with prices starting at 6,988 yuan and 12,999 yuan respectively. ($1 = 6.8230 Chinese yuan renminbi)Reporting by David Kirton; editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

[1/3] Vehicle lights cause light streaks on the road along a market, during country-wide power breakdown in Karachi, Pakistan January 23, 2023. But the blackout in Pakistan on Monday was its second near-complete grid failure and the third in south Asia in three months. Grid operators attempt to keep the frequency of the grid stable at 50 hz, with deviations over 0.05 hz typically considered abnormal. "Transmission lines tripped, which resulted in isolation of north and south system," Akthar said in the note. About 11.35 gigawatts (GW) of power plants were in operation across the country when the transmission lines tripped and separated the northern and southern grid, the note read.

☆ 2022 was tough for media stocks like Netflix and Disney, and 2023 doesn't look good, either
▼ + stars: | 2022-12-29 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +7 min

On top of that, companies are contending with lower ad revenue and more cord cutting. Tightening ad marketOn top of this, the ad market has worsened. Paramount missed third-quarter estimates after its ad revenue dropped, with its stock hitting a low in the following days. "We also anticipate that advertising streaming will become more important in the year to come," Solomon Partners' Boidman said. For media companies like Comcast and Charter Communications , lagging subscriber growth on the broadband front, rather than the pay-TV business, weighed more significantly on their stocks.

☆ Microsoft mulls building 'super app' - The Information
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - Microsoft Corp (MSFT.O) recently considered building a "super app" that could include shopping, messaging, news and web search services among others, The Information reported on Tuesday, citing people familiar with the matter. The Windows-maker mulled building the app to loosen the hold of Alphabet Inc's Google (GOOGL.O) and Apple Inc (AAPL.O) on the mobile search space, according to the report. Microsoft executives wanted the app to also boost the company's multibillion-dollar advertising business and Bing search, as well as draw more users to Teams messaging and other mobile services, The Information reportedMicrosoft did not immediately respond to a Reuters request for comment. Tesla Inc (TSLA.O) Chief Executive Elon Musk, who also owns Twitter, has shown interest in building a super app named "X" that would combine a multitude of services. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Malaysia to review plans for 5G network - PM Anwar
▼ + stars: | 2022-12-05 | by ( Rozanna Latiff | ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Dec 5 (Reuters) - Malaysia's newly appointed Prime Minister Anwar Ibrahim said on Monday his administration will review a plan for a state-owned 5G network introduced by a previous government, as it was not formulated transparently. Under the premiership of Muhyiddin Yassin in 2021, Malaysia unveiled a plan for a state-owned agency to own all 5G spectrum, with various carriers using the infrastructure to provide mobile services. The 5G plans will be evaluated to ensure they strictly followed procedures, Anwar said at a news conference following his first cabinet meeting. His government has defended the 5G plan, saying it will reduce costs, improve efficiency and accelerate infrastructure development. Reporting by Rozanna Latiff; Writing by A. Ananthalakshmi; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ New PM Anwar says Malaysia to review plans for 5G network
▼ + stars: | 2022-12-05 | by ( Rozanna Latiff | ) www.reuters.com time to read: +3 min

KUALA LUMPUR, Dec 5 (Reuters) - Malaysia's newly appointed Prime Minister Anwar Ibrahim said on Monday his administration will review a plan for a state-owned 5G network introduced by a previous government, as it was not formulated transparently. The single-ownership of the 5G spectrum raised concerns from the country's major carriers over pricing, transparency and monopoly. Anwar said the 5G plans would be evaluated to ensure they strictly followed procedures, alleging that there had been "no proper tender process", without specifying details. Muhyiddin's government previously defended the 5G plan, saying it will reduce costs, improve efficiency and accelerate infrastructure development. Anwar was appointed premier by the king last month, after the election resulted in an unprecedented hung parliament.

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