ST Telemedia set to acquire 33% stake in U Mobile

January 2, 2024

ST Telemedia to Acquire 33 Percent of U Television

KUALA LUMPUR, March 15 — Singapore Technologies Telemedia (ST Telemedia) and U Television Sdn Bhd, the major shareholder of U Mobile Sdn Bhd, have entered into definitive agreements for the proposed acquisition of a 33 percent stake in U Mobile. U Mobile is Malaysia’s fourth mobile phone operator and one of the newest 3G service providers.

Company Overview

Singapore Technologies Telemedia (ST Telemedia), a leading information-communications company with global operations, and U Television Sdn Bhd, the major shareholder of Malaysia’s fourth mobile phone operator and one of the newest 3G service providers, have entered into definitive agreements for ST Telemedia to acquire a 33 percent stake in U Mobile. The companies have engaged AmBank (M) Berhad and Newfields Advisors Sdn Bhd as their advisors in the transaction.

U TV is a pay television provider founded in 1998 as MiTV Networks Sdn Bhd and later renamed to U Television Sdn Bhd in 2005. It utilises an internet protocol over UHF-based transmission system, which requires subscribers to install a standard television antenna rather than a satellite dish for broadcast. It is largely owned by Tan Sri Vincent Tan, president of the Berjaya Group.

The company provides a full range of subscriber-based services, including digital television and broadband connectivity. Currently, U TV offers over 40 channels from content providers worldwide.

Frequently Asked Questions

U television is a Malaysian pay-tv operator. It uses an Internet protocol over UHF-based transmission system that allows subscribers to receive broadcasts with a standard television antenna, unlike other satellite tv providers which require the installation of a dish. U television is headquartered in Kuala Lumpur. It is owned by the Berjaya Group. It is a subsidiary of U Mobile, which is a Malaysian mobile telecommunications operator. It also operates an online news portal. It was formerly known as U Telecom Media Holdings Sdn. Bhd. and MiTV Corporation Sdn. Bhd.

Financial Statements

KUALA LUMPUR: Local tycoon Vincent Tan is making another attempt in the television business. His previous venture MiTV Corp Sdn Bhd incurred losses of over RM250 million and failed miserably. Tan said the company has decided to collaborate with Indonesian multinational conglomerate PT MNC Digital Entertainment Tbk to launch a new subscription-based television and content distributor brand called OK Vision.

The company’s distinguishing trait is that it utilises an Internet Protocol over UHF-based transmission system. This allows subscribers to install a standard UHF TV antenna instead of a satellite dish and makes it possible to broadcast even during inclement weather. It is largely owned by Tan Sri Vincent Tan, the president of the Berjaya Group.

Financial values in the chart are only available after the report is purchased.

Company History

The Company is a pay television operator. It offers 40 channels from content providers worldwide. Its distinguished traits include utilizing an Internet Protocol over UHF-based transmission system that requires subscribers to install standard TV antenna as opposed to satellite dishes. It is largely owned by Tan Sri Vincent Tan, the president of the Berjaya Group.

KUALA LUMPUR: Local tycoon Tan Sri Vincent Tan Chee Yioun is back with his second attempt at the television business after his MiTV Corp Sdn Bhd suffered losses amounting to more than RM250 million. The new venture is a subscriber-based television and content distributor brand, OK Vision.

Singapore Technologies Telemedia has signed definitive agreements to acquire a 33 percent stake in U Mobile Sdn Bhd, Malaysia’s fourth mobile phone operator and one of the newest 3G service providers. The agreement was signed by Lee Theng Kiat, President & Chief Executive Officer of ST Telemedia, and a representative of U Mobile.

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