Axiata gets shareholder nod for Ncell deal

18 Feb 2016

Malaysian telecoms group Axiata has received shareholder approval for its proposed acquisition of an 80% stake in Nepalese mobile operator Ncell. In December last year the group agreed to acquire TeliaSonera’s share of Ncell for USD1.365 billion, with the remainder to stay in the hands of local shareholders. Axiata’s chairman Tan Sri Azman Mokhtar commented: ‘With Ncell in the fold, we are now in a stronger position to further unlock shareholders’ value and returns for the longer term.’ Once completed, the Ncell deal will expand Axiata’s footprint to ten countries across Asia.

Nepal, Axiata, Ncell Axiata