The newly appointed DNB directors from telcos will begin reviewing due diligence findings next week as part of the ongoing process to acquire 70% stake in DNB.
Gobind told reporters that DNB will convene a meeting next week to look at the due diligence report. It is understood that the ongoing due diligence review process will be followed by a formal board meeting. The participating telcos will have 20 days to recommend and decide on the next steps.
If all requirements of the SSA are fulfilled by then, the equity deal which allows the 5 major telcos to acquire a collective 70% stake in DNB can be finalised. The Malaysian government via the Ministry of Finance will then reduce its stake in DNB from 100% to 30%, while holding a golden share.
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