KUALA LUMPUR: The Malaysian Communications and Multimedia Fee (MCMC) will guarantee any telecommunications service suppliers’ merger nonetheless upholds wholesome competitors and stop monopolies within the trade, stated Communications Minister Fahmi Fadzil.
Fahmi stated this when responding to a query from the media on the proposed Maxis-U Cellular merger that was reported on Tuesday.
Referring to the Celcom and Digi merger for example, he stated MCMC required the telcos to give up sure spectrum bands and divest particular enterprise models to make sure wholesome competitors within the telecommunications trade.
“If any firm desires to merge or undertake a merger, the ministry and MCMC will look into it to stop dominance or a single get together controlling the complete sector. We should guarantee competitors exists and stays wholesome, which is a precedence for MCMC,” he instructed reporters after the launch of KL Startup Summit 2024 as we speak.
Moreover, he stated the proposal for Maxis to accumulate U Cellular is primarily a business choice made by the businesses concerned.
Due to this fact, he stated the federal government doesn’t intervene in these enterprise selections and stays impartial on whether or not the merger can be useful or detrimental to the market.
As to the occasion, the fourth version of the KL Startup Summit was initially launched because the Cyberjaya Startup Summit in 2018, and subsequently rebranded to draw a broader viewers from Malaysia’s tech and startup ecosystem, together with small and medium enterprises.
Themed “Innovate for Affect,“ the summit gathers startup founders, traders, and ecosystem builders to discover funding alternatives, leverage know-how, and unlock the potential of synthetic intelligence. It seeks to supply alternatives for contributors to achieve insights and techniques within the early-stage startup scene.
“Bringing collectively people within the early-stage startup ecosystem can ignite numerous alternatives. Our purpose is to make sure that this summit not solely fosters connections but in addition delivers content material with a number of substance,“ stated Inbaraj Suppiah, founding father of KL Startup Summit.