Axiata Group buys Nepal’s Ncell for $1.36b

NepalTelecom Asia — Malaysia-based Axiata Group has entered the Nepal telecoms market with the acquisition of the nation’s largest mobile operator Ncell. Axiata has paid $1.36 billion for an effective 80% stake in Ncell from previous owners TeliaSonera UTA Holdings and Reynolds Holdings’ SEA Telecom Investments. Local partner Sunivera Capital Ventures will retain a 20% direct stake in Ncell, as required under Nepalese law.

http://www.telecomasia.net/content/axiata-group-buys-nepals-ncell-136b

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