TeliaSonera sells back Nepal Satellite share.

TeliaSonera- the Swedish and Finnish telecom conglomerate, having ownership in two of the telecom company in Nepal ( 80 percent shares in Ncell and about 57 percent in Nepal Satellite ), sells back its  investment for Nepal Satellite. Citing the uncertainty of Licensing from regulator (NTA), TeliaSonera opts out from Nepal Satellite to reduce the business risk and complexity of its involvement in Nepal. With the sale, it is reported that they are having Swedish Krona 0.4 billion loss (60 million USD), enabling more concentration on Ncell- the private telecom operator of Nepal.
In a statement released yesterday, they say:
“TeliaSonera has reached an agreement to sell back its indirect ownership in Nepal Satellite, a regional operator in Nepal, to Zhodar Investment. Over the past year, uncertainty regarding the regulatory and legal environment for consolidation and granting of licenses in Nepal has increased. Pursuing an acquisition of Nepal Satellite is therefore not considered possible for regulatory reasons.”