Aziata decides to exit Ncell
Aziata's board of directors decided to withdraw from Nepal.
KATHMANDU: Aziata is going to leave the telecommunication service provider company Ncell.
Aziata’s board of directors decided to withdraw from Nepal.
The decision to withdraw was taken owing to rising business constraints in Nepal, according to Vivek Sood, Chief Executive Officer and Managing Director of Aziata Group.
Ncell is owned by Aziata Group to the tune of 80%. Sunivera Capital Ventures Pvt. Ltd. owns the remaining 20% of the company.
Telia Sonera, a Swedish corporation, having previously sold the firm’s shares. Aziata purchased the shares at the time. The corporation has decided to depart after seven years of purchasing the shares.
As the business of Ncell continues to decline, Aziata has left Nepal.
In the year 2022/23, Ncell’s business was limited to 37.44 billion. The company had a turnover of 39.72 billion in 2021/22, 40.42 billion in 2020/21 and 46.87 million in 2019/20.
Ncell’s business is continuously decreasing.
