Axiata to acquire 80pc stake in Nepal�s Ncell

Asian Telecom giant Axiata is playing an aggressive role in regional market. Axiata announces acquisition of  Nepal’s Ncell just after 3 months of announcing Robi-Airtel merger.
Axiata Group Berhad (Axiata) yesterday announced the expansion of its regional footprint and entry into the Nepal market through the acquisition of its number one mobile operator, Ncell Private Limited (Ncell).
Through its wholly-owned subsidiary, Axiata Investments (UK) Limited, Axiata has entered into a conditional sale and purchase agreement with TeliaSonera UTA Holdings BV and SEA Telecom Investments BV for the 100 per cent acquisition of Reynolds Holdings Limited (Reynolds).
The acquisition of Reynolds for the purchase price of USD1.365 billion plus customary adjustments at closing, effectively secures Axiata an 80 per cent equity interest and controlling stake in Ncell.
Nepal is one of the emerging economies with steady GDP growth in Asia. With a mobile penetration of unique subscribers of 51 per cent, the country has experienced a mobile subscriber growth at an average of 18 per cent from 2012-2014. Ncell is the number one operator in Nepal
with a stronghold of close to 57.5 per cent revenue market share and 48.8 per cent subscriber market share.
Post-acquisition, Axiata will have contiguous presence and reach in five key countries across South Asia. Axiata’s combined footprint in South East Asia and South Asia will cover a total population of 1.77 billion and further solidify the Group as one of the leading mobile operators in the region with over 280 million customers from 2682 million till today.
President and Group Chief Executive Officer of Axiata Dato’ Sri Jamaludin Ibrahim said, “As with all our investments, we see our entry into Nepal as a long-term strategic move for the Group. At the same time, Axiata is also committed to playing a major part in the development of the country by offering high-speed data connectivity and products in par with its economic progress. Being a responsible corporate citizen and major contributor to the country’s economy is key to our long-term vision.”

Axiata to acquire 80pc stake in Nepal�s Ncell

Asian Telecom giant Axiata is playing an aggressive role in regional market. Axiata announces acquisition of Nepals Ncell just after 3 months of announcing Robi-Airtel merger. Axiata Group Berhad (Axiata) yesterday announced the expansion of its regional footprint and entry into the Nepal market through the acquisition of its number one mobile operator, Ncell Private Limited (Ncell). Through its wholly-owned subsidiary, Axiata Investments (UK) Limited, Axiata has entered into a conditional sale and purchase agreement with TeliaSonera UTA Holdings BV and SEA Telecom Investments BV for the 100 per cent acquisition of Reynolds Holdings Limited (Reynolds). The acquisition of Reynolds for the purchase price of USD1.365 billion plus customary adjustments at closing, effectively secures Axiata an 80 per cent equity interest and controlling stake in Ncell. Nepal is one of the emerging economies with steady GDP growth in Asia. With a mobile penetration of unique subscribers of 51 per cent, the country has experienced a mobile subscriber growth at an average of 18 per cent from 2012-2014. Ncell is the number one operator in Nepal with a stronghold of close to 57.5 per cent revenue market share and 48.8 per cent subscriber market share. Post-acquisition, Axiata will have contiguous presence and reach in five key countries across South Asia. Axiatas combined footprint in South East Asia and South Asia will cover a total population of 1.77 billion and further solidify the Group as one of the leading mobile operators in the region with over 280 million customers from 2682 million till today. President and Group Chief Executive Officer of Axiata Dato Sri Jamaludin Ibrahim said, As with all our investments, we see our entry into Nepal as a long-term strategic move for the Group. At the same time, Axiata is also committed to playing a major part in the development of the country by offering high-speed data connectivity and products in par with its economic progress. Being a responsible corporate citizen and major contributor to the countrys economy is key to our long-term vision.