Malaysian company Axiata Group has sold 80 percent of its stake in Ncell to a UK-based company.
Axiata has signed an agreement to sell the shares to UK-based Company Spectralite UK Ltd owned by Satish Lal Acharya, an entrepreneur from Nepal.
According to the agreement, shares worth USD 50 million (6.66 billion rupees) were sold to that company.
According to the agreement, Axiata will continue receiving the dividends received by Ncell until 2029.
Spectralite UK Ltd is a UK-registered company.
Axiata Group announced on Wednesday that it has put its shares up for sale. After Axiata exited Nepal, its shares were bought by the UK-based company.
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