TeliaSonera made the announcement, issuing a statement on Monday.Last year, the Swedish company had announced to reduce its presence in Eurasia and focus on Nordic and Baltic markets.
TeliaSonera's 60.4 percent stake in Ncell has now been divested to Axiata. According to the company, the deal has been approved by all relevant authorities.
"I am very pleased to announce the completion of our divestment of Ncell to Axiata, according to our announcement in December last year and in line with our ambition to reduce our presence in Eurasia over time," Johan Dennelind, president and CEO of TeliaSonera, said in the statement, adding: "Axiata is a suitable new owner of Ncell and it gives me comfort that our dedicated employees are in good hands."
The new buyer Axiata, according to TeliaSonera, has approximately 275 million customers and 25,000 employees in Asia. "Ncell will complement its portfolio of Asian telecommunications assets, which includes operations in Malaysia, Indonesia, Sri Lanka, Bangladesh, Cambodia, India, Singapore, Myanmar and Pakistan," the statement reads.
According to TeliaSonera, it completed the sale at an enterprise value of US$ 1,030 million for its 60.4 percent ownership of Reynolds Holding which owns Ncell.
Meanwhile, marking the occasion of Ncell becoming a part of Axiata Group, Ncell has unveiled 'Ncell Axiata Roam' offer under which all Ncell subscribers travelling to Malaysia, Sri Lanka, Bangladesh and Cambodia will enjoy attractive discounts on roaming rates while staying connected through Axiata Group network. Under this offer, Ncell prepaid and postpaid subscribers will be able to communicate with their dear ones back home at a flat rate of Rs 15, including taxes, when latched with Celcom Axiata network (Malaysia), Dialog Axiata network (Sri Lanka), Robi Axiata network (Bangladesh) and Smart Axiata network (Cambodia). "Ncell Axiata Roam offer is a gift to our valued customer on the occasion of Nepali New Year 2073 and Ncell becoming a part of Axiata Group," Pranay Acharya, enterprise director of Ncell, said in a statement issued by Ncell.
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