Axiata Group Bhd is expanding into the Nepal market by buying an 80% stake in the number one mobile operator, Ncell Pte Ltd for US$1.365bil (RM5.907bil).
The telco company said on Monday it had signed a conditional sale and purchase agreement with TeliaSonera UTA Holdings B.V. and SEA Telecom Investments B.V. for the 100% acquisition of Reynolds Holdings Ltd.
“The acquisition of Reynolds for the purchase price of US$1.365bil plus customary adjustments at closing, effectively secures Axiata an 80% equity interest and controlling stake in Ncell,” it said.
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The telco company said on Monday it had signed a conditional sale and purchase agreement with TeliaSonera UTA Holdings B.V. and SEA Telecom Investments B.V. for the 100% acquisition of Reynolds Holdings Ltd.
“The acquisition of Reynolds for the purchase price of US$1.365bil plus customary adjustments at closing, effectively secures Axiata an 80% equity interest and controlling stake in Ncell,” it said.
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