Axiata confirms terms for reissuance of Celcom’s 2100MHz spectrum

Malaysia’s Axiata Group has announced that its local subsidiary Celcom has received an offer from the Malaysian Communications and Multimedia Commission (MCMC) with regards to the reissuance of its existing spectrum assignment in the 2100MHz band. In a filing with the Bursa Malaysia, Axiata confirmed that to retain the 2×15MHz block it currently holds (1950MHz-1965MHz/2140MHz-2155MHz) for a 16-year period from 2 April 2018 it would be required to pay a ‘price component payment’ of MYR118.4 million (USD30.5 million) by 1 February 2018, as well as an annual fixed fee payment of MYR50 million, with the latter due by 15 December each year throughout the assignment period. In line with this, it was noted that Celcom has already submitted the price component fee in one lump sum, with this payment having been acknowledge by the MCMC.