Ncell’s holding company – Malaysian telecommunication company Axiata has decided to withdraw investment from Nepal. The board meeting of Axiata has decided to sell Ncell and exit from Nepal.
Axiata has informed the local regulator about this decision. As the economic scenario of Nepal is becoming challenging day by day, Axiata has told the regulator that it has decided to exit from Nepal. According to the decision, Ncell has been put up for sale by the company. The company has expressed the belief that the decision to leave Nepal will further strengthen Axiata and benefit investors in the long term.
8 years ago Axiata bought the ownership of Ncell from TeliaSonera. After that, when there was a capital gain tax dispute, the company also paid Arwa tax to the Nepal government. Ncell owns 80 percent of Malaysia’s Axiata. He has decided to leave Nepal by selling the entire ownership.