Axiata Group has decided to end its partnership with Ncell, a Nepalese telecommunications operator.
The company's board of directors decided to walk away from Ncell.
The group decided to leave Nepal due to rising commercial concerns and challenges.
Along with its pullout from Ncell, the firm announced intentions to sell the company.
Axiata Group Berhad controls 80% of Ncell. The remaining 20% of the shares is owned by Sunivera Capital Ventures Pvt. Ltd. Telia Sonera, a Swedish corporation previously sold its stock. At the moment, Axiata purchased the shares.
After 7 years of acquiring shares, the firm has also chosen to exit.