PETALING JAYA: Axiata Group Bhd
\nimage: https:\/\/cdn.thestar.com.my\/Themes\/img\/chart.png<\/p>\n
has marked a new milestone with its entry into Nepal\u2019s telecommunications market after successfully completing the acquisition of Ncell Private Ltd.<\/p>\n
In a statement yesterday, the telco said that as the number one mobile operator in Nepal, Ncell has the expertise, proven track record in South Asia and strategic intentions to bring long-term development to the country.<\/p>\n
\u201cThe unique mix of a controlling stake of a well-managed number one player in a healthy, growing market presents Axiata the perfect expansion opportunity of its footprint.<\/p>\n
The addition of Ncell into the Axiata network of mobile operators marks yet another significant milestone for the Group, in terms of solidifying our strong hold in the South Asian region,\u201d said Axiata president and group chief executive officer Datuk Seri Jamaludin Ibrahim.<\/p>\n
Through its wholly-owned subsidiary, Axiata Investments (UK) Ltd, Axiata completed the acquisition from TeliaSonera UTA Holdings B.V. and SEA Telecom Investments B.V. of Reynolds Holdings Ltd.<\/p>\n
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.<\/p>\n
All the terms of the sale and purchase agreement were met for the completion of the transaction including approvals from all relevant regulatory authorities in Nepal and Malaysia.<\/p>\n
Axiata enters the Nepal market with its local partner, Sunivera Capital Ventures Pte Ltd, holding 20% direct local shareholding in Ncell, as required under local law.<\/p>\n
Local partner transaction completion was a condition precedent to Axiata\u2019s acquisition of Ncell.<\/p>\n
Jamaludin added that Axiata is grateful for the approvals from all relevant government authorities involved in the acquisition exercise, both in Malaysia and Nepal.<\/p>\n
\u201cWith our proven track record in contributing to national development in markets where we operate, and our extensive experience within the region, we look forward to working with the Nepali government and regulators to further improve the quality of lives of all Nepalese, in line with the country\u2019s ambitions,\u201d he said.<\/p>\n
The group noted its strong operating history in low average revenue per user emerging Asia markets where synergy are expected in several areas.<\/p>\n
Axiata\u2019s foray into the country will allow it to to effectively offer high-speed data connectivity, and exciting products and services to meet the demands of a young and maturing Nepali market, with tremendous opportunities for growth over the longer term.<\/p>\n
One major avenue for growth is the the overseas foreign workers segment, where there are about one million Nepalese in Malaysia alone, representing opportunities in international calling and mobile-remittance, it said.<\/p>\n
PETALING JAYA: Axiata Group Bhd
\nimage: https:\/\/cdn.thestar.com.my\/Themes\/img\/chart.png<\/p>\n
has marked a new milestone with its entry into Nepal\u2019s telecommunications market after successfully completing the acquisition of Ncell Private Ltd.<\/p>\n
In a statement yesterday, the telco said that as the number one mobile operator in Nepal, Ncell has the expertise, proven track record in South Asia and strategic intentions to bring long-term development to the country.<\/p>\n
\u201cThe unique mix of a controlling stake of a well-managed number one player in a healthy, growing market presents Axiata the perfect expansion opportunity of its footprint.<\/p>\n
The addition of Ncell into the Axiata network of mobile operators marks yet another significant milestone for the Group, in terms of solidifying our strong hold in the South Asian region,\u201d said Axiata president and group chief executive officer Datuk Seri Jamaludin Ibrahim.<\/p>\n
Through its wholly-owned subsidiary, Axiata Investments (UK) Ltd, Axiata completed the acquisition from TeliaSonera UTA Holdings B.V. and SEA Telecom Investments B.V. of Reynolds Holdings Ltd.<\/p>\n
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.<\/p>\n
All the terms of the sale and purchase agreement were met for the completion of the transaction including approvals from all relevant regulatory authorities in Nepal and Malaysia.<\/p>\n
Axiata enters the Nepal market with its local partner, Sunivera Capital Ventures Pte Ltd, holding 20% direct local shareholding in Ncell, as required under local law.<\/p>\n
Local partner transaction completion was a condition precedent to Axiata\u2019s acquisition of Ncell.<\/p>\n
Jamaludin added that Axiata is grateful for the approvals from all relevant government authorities involved in the acquisition exercise, both in Malaysia and Nepal.<\/p>\n
\u201cWith our proven track record in contributing to national development in markets where we operate, and our extensive experience within the region, we look forward to working with the Nepali government and regulators to further improve the quality of lives of all Nepalese, in line with the country\u2019s ambitions,\u201d he said.<\/p>\n
The group noted its strong operating history in low average revenue per user emerging Asia markets where synergy are expected in several areas.<\/p>\n
Axiata\u2019s foray into the country will allow it to to effectively offer high-speed data connectivity, and exciting products and services to meet the demands of a young and maturing Nepali market, with tremendous opportunities for growth over the longer term.<\/p>\n
One major avenue for growth is the the overseas foreign workers segment, where there are about one million Nepalese in Malaysia alone, representing opportunities in international calling and mobile-remittance, it said.<\/p>\n
PETALING JAYA: Axiata Group Bhd
\nimage: https:\/\/cdn.thestar.com.my\/Themes\/img\/chart.png<\/p>\n
has marked a new milestone with its entry into Nepal\u2019s telecommunications market after successfully completing the acquisition of Ncell Private Ltd.<\/p>\n
In a statement yesterday, the telco said that as the number one mobile operator in Nepal, Ncell has the expertise, proven track record in South Asia and strategic intentions to bring long-term development to the country.<\/p>\n
\u201cThe unique mix of a controlling stake of a well-managed number one player in a healthy, growing market presents Axiata the perfect expansion opportunity of its footprint.<\/p>\n
The addition of Ncell into the Axiata network of mobile operators marks yet another significant milestone for the Group, in terms of solidifying our strong hold in the South Asian region,\u201d said Axiata president and group chief executive officer Datuk Seri Jamaludin Ibrahim.<\/p>\n
Through its wholly-owned subsidiary, Axiata Investments (UK) Ltd, Axiata completed the acquisition from TeliaSonera UTA Holdings B.V. and SEA Telecom Investments B.V. of Reynolds Holdings Ltd.<\/p>\n
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.<\/p>\n
All the terms of the sale and purchase agreement were met for the completion of the transaction including approvals from all relevant regulatory authorities in Nepal and Malaysia.<\/p>\n
Axiata enters the Nepal market with its local partner, Sunivera Capital Ventures Pte Ltd, holding 20% direct local shareholding in Ncell, as required under local law.<\/p>\n
Local partner transaction completion was a condition precedent to Axiata\u2019s acquisition of Ncell.<\/p>\n
Jamaludin added that Axiata is grateful for the approvals from all relevant government authorities involved in the acquisition exercise, both in Malaysia and Nepal.<\/p>\n
\u201cWith our proven track record in contributing to national development in markets where we operate, and our extensive experience within the region, we look forward to working with the Nepali government and regulators to further improve the quality of lives of all Nepalese, in line with the country\u2019s ambitions,\u201d he said.<\/p>\n
The group noted its strong operating history in low average revenue per user emerging Asia markets where synergy are expected in several areas.<\/p>\n
Axiata\u2019s foray into the country will allow it to to effectively offer high-speed data connectivity, and exciting products and services to meet the demands of a young and maturing Nepali market, with tremendous opportunities for growth over the longer term.<\/p>\n
One major avenue for growth is the the overseas foreign workers segment, where there are about one million Nepalese in Malaysia alone, representing opportunities in international calling and mobile-remittance, it said.<\/p>\n