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Axiata to Buy Shares in NCell

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Teliasonera has agreed to sell its 60.4 % stakes in the Nepalese telecom operator NCell to Axiata, for $ 1,030 million on a cash and debt free basis. At the same time, TeliaSonera will dissolve its economic interests in the 20 percent local ownership held by Mr. Niraj Shrestha and receives approximately USD 48 million.

“In September we announced our ambition to reduce our presence in our seven Eurasian markets and focus on our operations in the Nordics and Baltics, within the strategy of creating the new TeliaSonera. Today, I am very pleased to announce a first step and proof point in this reshaping of TeliaSonera. I am also glad to see Axiata as a new owner. That gives me comfort that our dedicated employees are in good hands when taking Ncell to the next level,” says Johan Dennelind, TeliaSonera’s President and CEO. Read more

 

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Sweekar S

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