Telecom 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.
Malaysia’s Axiata Group has revealed plans to expand its presence in Asia with the $1.36 billion purchase of an 80% stake in Nepalese mobile operator Ncell. Sweden-based TeliaSonera has arranged to sell its stake in Reynolds Holdings to Axiata Group for $1.03 billion, Axiata announced.