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Axiata Group exits Nepal operations with Ncell Axiata stake sale
View on r/Nepal by pailkedv
Yini haru profitable nai thiyo. Aile 50 million lera 2029 samma ko profit lera tax chalna lako jasto lagyo mali ta.
Seen this couple of times but I have no idea what’s going on.is it company? Is it recession? What is it? Are there now coming?
Whoever did the diligence work when Axiata bought NCell fucked up big time. How come they did not identify capital gains tax as a risk and use it to lower the purchase price?
Although it maybe profitable, that may not be the case after considering $500M capital gains tax and $150M license renewal fee. In addition, the profit is declining and which will considerably reduce it’s future value and ROI. Add to this regulatory instability, and slower growth prospects, it is not worth their time. They probably decided they are better off writing off this investment and focus on turning around their other parts of their business.
Nepal Govt: loser
Seller of Ncell: big winner
Reading through the Reuters Newswire, it looks like Axiata is facing financial troubles already, and are deciding to sell off less profitable assets.
They cite regulatory uncertainties and the business climate in Nepal, which basically just means being held up by Bureaucracy, in order for corrupt officials to extract bribes.
Whilst the stability of the country is off the rocks, as we have constant government collapsed, leading to a non-existent state policy towards business.
Unlike most Capitalists say, businesses don’t need Democracy or Non-Corruption as pre-requisite for growth.
Stability is the only thing that matters.
Which is why State Capitalism is more successful than any Free Market Neoliberalism.
Summary: They purchased it for $1.37 Billion and then sold it for $50 million
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