KUALA LUMPUR: The Malaysian Communications and Multimedia Commission (MCMC) will ensure any telecommunications service providers’ merger still upholds healthy competition and prevent monopolies in the industry, said Communications Minister Fahmi Fadzil.
Fahmi said this when responding to a question from the media on the proposed Maxis-U Mobile merger that was reported on Tuesday.
Referring to the Celcom and Digi merger as an example, he said MCMC required the telcos to surrender certain spectrum bands and divest specific business units to ensure healthy competition in the telecommunications industry.
“If any company wants to merge or undertake a merger, the ministry and MCMC will look into it to prevent dominance or a single party controlling the entire sector. We must ensure competition exists and remains healthy, which is a priority for MCMC,” he told reporters after the launch of KL Startup Summit 2024 today.
Furthermore, he said the proposal for Maxis to acquire U Mobile is primarily a commercial decision made by the companies involved.
Therefore, he said the government does not interfere in these business decisions and remains neutral on whether the merger would be beneficial or detrimental to the market.
As to the event, the fourth edition of the KL Startup Summit was originally launched as the Cyberjaya Startup Summit in 2018, and subsequently rebranded to attract a broader audience from Malaysia’s tech and startup ecosystem, including small and medium enterprises.
Themed “Innovate for Impact,“ the summit gathers startup founders, investors, and ecosystem builders to explore funding opportunities, leverage technology, and unlock the potential of artificial intelligence. It seeks to offer opportunities for participants to gain insights and strategies in the early-stage startup scene.
“Bringing together individuals in the early-stage startup ecosystem can ignite countless opportunities. Our goal is to ensure that this summit not only fosters connections but also delivers content with lots of substance,“ said Inbaraj Suppiah, founder of KL Startup Summit.
