Axiata to Exit Ncell, Nepal’s First Private Mobile Service Provider

Axiata, the Malaysian multinational telecommunications conglomerate, has announced its decision to exit from Ncell, Nepal’s pioneering private mobile service provider. The decision was made during a recent board meeting of Axiata, where the company holds an 80 percent stake in Ncell.

Vivek Sood, Axiata Group’s Chief Executive Officer and Managing Director, confirmed the decision and cited increasing challenges in the Nepalese market as a primary factor. Sood stated, “The board has decided to withdraw from Nepal,” adding that the decision aligns with the company’s strategy to strengthen its position and prioritize long-term benefits for shareholders.

“The challenge is increasing in Nepal,” Sood explained. “Our decision will make Axiata stronger, prioritize our strategy, and benefit shareholders in the long run.” As part of the exit strategy, Axiata has earmarked the 80 percent stake it holds in Ncell for sale, marking a significant shift in the telecommunications landscape in Nepal.

The move comes amid dynamic changes and challenges in the telecommunications sector globally and reflects Axiata’s commitment to strategic decision-making to enhance its overall business outlook.