Axiata Ncell stake sale a positive derisking factor

PETALING JAYA: Following the announcement that Axiata Group Bhd has sold its stake in Ncell Axiata Bhd by disposing of its shares in Reynolds Holdings Ltd, and has exited Nepal, analysts are upbeat on what this may mean for the company.

In a statement last Friday, the local telecommunications and digital conglomerate said it had disposed of its shares to London-based Spectrlite UK Ltd (SSUK) with a fixed consideration of US$50mil, to be paid over four years and a conditional consideration.