Axiata Fled Selling Ncell’s Shares in Very low Value,143 Billion Shares Fell to 6 Billion

Kathmandu: The main investor of Ncell a multinational company based in Malaysia which is in controversy, has decided to escape by selling its shares at very low price. Axiata who bought 80 percent of Ncell’s shares for 143 billion for about seven years ago, has decided to sell its shares and flee after seven years.

According to “the press release” published by Ncell on 1st of December, 2023 A.D, there has been a written agreement to purchase 100 percent shares of Reynolds Holding that owns 20 percent shares of Ncell and 80 percent shares of Ncell owned by Axiata, to Satis lal Acharya company named Spectrolite UK Limited (Singapore).

According to the agreement, Axiata has sold 100 percent shares of Reynolds Holding to Satish lal Acharya’s company for a total value of Five Million US dollars. The shares of Ncell, which is sinking due to the total assets and liabilities, have been bought and sold for a total of 6.66 billion Nepalese rupees. Axiata bought the shares seven years ago for 100.43 billion and sold the shares in a mysterious way.

On the other hand, the regulatory body Nepal Telecommunication Authority has asked clarification from Kathmandu-based Ncell about the sale and distribution of shares without prior approval. The regulatory body authority has shown interest in the purchase and sale of shares of Ncell, which has borrowed more than 20 billion from Nepali banks, after Axiata fled away by selling shares without giving a single notice to the regulatory body of Nepal.

Axiata, the main investor of Ncell, whose business has been continuously declining lately, has finally fled. The Ncell company ‘s License, which has been running illegal business in Nepal by setting billions of rupees in bribes and influencing political party leaders to set bribes, is expiring in the year 2029 A.D ( 2086 B.S). As the license expiry period approaches, Ncell is also in a position to run away in the same style as Smart Cell.