Axiata Group Exits Nepal With Sale of Ncell to SpectrLite

Axiata Group, the parent company of Ncell, is exiting Nepal, with the company announcing its decision to sell its shares in Ncell. In an official release, Ncell announced that a transaction has been agreed upon between SpectrLite and Axiata. SpectrLite has agreed to acquire 100 percent of Axiata’s stake in Reynolds Holdings, based in Saint Kitts and Nevis. Reynolds Holdings, in turn, holds 80 percent of the shares in the Nepalese operator Ncell.

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Also Read: Ncell Expands 4G Coverage to Remote Districts of Nepal

SpectrLite’s Commitment

SpectrLite, owned by investor Satish Lal Acharya of Nepali origin, expresses commitment to driving Ncell forward. It plans to expand the range of services, enhance quality, and introduce digital innovations.

SpectrLite UK investor said, “SpectrLite is pleased to announce an agreement for the acquisition of a controlling shareholding in Ncell. I will be drawing upon my extensive experience in the telecommunications industry and working with the management of Ncell to drive innovations, investments, and a wide range of life-enhancing services to the Nepalese people.”

Ncell said, “Ncell is pleased with the upcoming change in ownership and eagerly anticipates collaborating with new shareholders to elevate Ncell into a world-class Nepali-driven data and communications hub. In the foreseeable future, Ncell will unveil its refined plans that underscore the substantial prospects for expanding Ncell’s service offerings. This evolution aims to maintain Ncell’s position as the leading national digital services and internet access platform.”

Also Read: Ncell Axiata Deploys 338 Mobile Towers, Expands Network Coverage Across Nepal