TeliaSonera Completes Divestment of Nepal's MNO Ncell

TeliaSonera Completes Divestment of Nepal's MNO Ncell Image Credit: TeliaSonera

TeliaSonera, Tuesday announced that it has completed the divestment of its holding in the Nepalese operator Ncell. Early this year, Axiata Group signed a deal with TeliaSonera to acquire Ncell, which is Nepal's leading operator for US$1.37 billion. 

Axiata took 100% stake in Reynolds Holdings from TeliaSonera UTA Holdings BV and SEA Telecom Investments to have an 80% stake in Ncell. At the same time, TeliaSonera dissolved its economic interests in the remaining 20 percent local ownership in Ncell and received approximately US$48 million from Sunivera Capital Ventures, Singapore. 

Axiata has approximately 275 million customers and 25,000 employees in Asia. Ncell will complement its portfolio of Asian telecommunications assets which includes operations in Malaysia, Indonesia, Sri Lanka, Bangladesh, Cambodia, India, Singapore, Myanmar and Pakistan. 

Hohan Dennelind, President and CEO, TeliaSonera
I am very pleased to announce the completion of our divestment of Ncell to Axiata, according to our announcement in December and in line with our ambition to reduce our presence in Eurasia over time. Axiata is a suitable new owner of Ncell and it gives me comfort that our dedicated employees are in good hands.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

PREVIOUS POST

Orange Completes the Acquisition of Liberian Mobile Operator Cellcom

NEXT POST

Reliance Jio Onboards Half a Million Users to 4G LTE Network, Average Monthly Consumption Exceeds 18GB

THE EDITOR'S DESK

UPCOMING EVENTS

Artelligence 2019

Telco AI Summit Asia

Network Virtualization and SDN Asia

Network Virtualization & SDN Americas

 

ON TWITTER

ON FACEBOOK