Spectrlite, Axiata reach agreement on shareholding in Ncell

KATHMANDU, DECEMBER 3:  An agreement has been reached between Spectrlite UK Ltd and Axiata UK Ltd whereby the former will be acquiring 100% of the latter’s stake in Reynolds Holdings based in Saint Kitts and Nevis, which in its turn holds 80% of the shares in Ncell. It was announced by Ncell by in a press communique issued yesterday.  Spectrlite is said to be committed to driving Ncell forward, expanding the range of services, enhancing quality, and introducing digital innovations.

“Spectrlite is pleased to announce an agreement for the acquisition of a controlling shareholding in Ncell.  I will be drawing upon my extensive experience in the telecommunications industry and shall be working with the management of Ncell to drive innovations, investments, and a wide range of life-enhancing services to the Nepalese people,” the communique quoted the owner of Spectrlite UK, Satish Lal Acharya, as saying.

Similarly, Jabbor Kayumov – Chief Executive Officer & Managing Director of Ncell reported said,“Ncell is pleased with the upcoming change in ownership and eagerly anticipates collaborating with new shareholders to elevate Ncell into a world-class Nepali-driven data and communications hub.

“In the foreseeable future, Ncell will unveil its refined plans that underscore the substantial prospects for expanding Ncell’s service offerings. This evolution aims to maintain Ncell’s position as the leading national digital services and internet access platform.”