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Malaysia's Axiata buys 80% of Nepali telco Ncell for US$1.36b

Deal expected to add 13m subscribers, contribute almost 20% to net profit

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Malaysia Axiata Group has acquired 80 per cent of Nepal's Ncell Pte Ltd for US$1.365 billion cash, in a move that will allow the state-owned operator to expand its market share in South Asia as well as to leverage the international calls and mobile remittances of the million odd Nepali working in the country.

Kuala Lumpur

MALAYSIA'S Axiata Group has acquired 80 per cent of Nepal's Ncell Pte Ltd for US$1.365 billion cash, in a move that will allow the state-owned operator to expand its market share in South Asia as well as to leverage the international calls and mobile remittances of the

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