NTA requests telcos’ to provide full details on their share ownerships

28 Nov 2014

The Himalayan News Service reports that national telecoms watchdog the Nepal Telecommunications Authority (NTA), has contacted the country’s service providers directing them to provide up to date information on their share ownership structures and full list of investors, following increased speculation that some may have changed ownership makeup without notifying the regulator – as required under local law. Telecoms service providers are expected to inform the NTA of any changes in share ownership, but the agency says that amid press rumours that some telcos have changed their share ownership structures, it has not been notified. To redress this, on 18 November the NTA instructed six telecom companies – Nepal Telecom, Ncell, United Telecom Limited (UTL), Smart Telecom, Nepal Satellite Telecom and STM Sanchar – to submit the required information about their share structures. However, the telcos failed to comply, prompting the watchdog to repeat its direction to them.