• Ntc
  • Ncell
  • Samsung
  • Apple
  • Xiaomi
  • 2G to 5G
  • ISP
  • NTA
  • Tariffs
  • About us
Monday, May 19, 2025
NepaliTelecom
  • Home
  • Telecom News
    • News
    • NTA
    • Ntc
    • Ncell
    • Smart Cell
    • Digital Nepal
  • Gadgets
  • How To
  • Editors’ Pick
  • Contact
  • About
No Result
View All Result
  • Home
  • Telecom News
    • News
    • NTA
    • Ntc
    • Ncell
    • Smart Cell
    • Digital Nepal
  • Gadgets
  • How To
  • Editors’ Pick
  • Contact
  • About
No Result
View All Result
NepaliTelecom
No Result
View All Result

After Nepal, Axiata exits the Myanmar market for similar reasons

Dinesh by Dinesh
April 6, 2024
in Telco News
Reading Time: 3 mins read
Axiata G

Axiata Group Berhad has announced that it’s selling its telecom tower business in Myanmar due to the challenging business environment. As per reports, the Edotco Group is selling its assets for $150 million in cash. The move follows the sale of Axiata’s 80% equity stakes in Ncell back in late 2023.

In a recent filing with Bursa Malaysia, Axiata said that it’s entered a share purchase agreement to sell its entire stake of 87.5% in Edotco Investments Singapore Pte Ltd for $150.

Reports have emerged that Pun Tower Investments Ltd., owned by Yoma Group founder Serge Pun is acquiring the stakes. Analysts state that removing Edocto Myanmar from its active business books in Myanmar will help it invest efficiently in the frontier markets. Edotco is seeking new investors in the Philippines to raise capital. Therefore, market experts also agree that selling the assets means a clearer path ahead for the group.

Also read: The government directed to change rules to bring Ncell under state ownership

Axiata exits Myanmar business after selling shares in Ncell in Nepal

Axiata pinned the blame on the country’s macroeconomics and challenging business environment for its exit. The telco conglomerate said, that the “decision to exit Myanmar was made due to deteriorating macroeconomics and operating environments in Myanmar.” It seems that when it comes to telco business, Myanmar is not the only country. There are several challenges afflicting telecom operators in Nepal too.

“Capital from the Proposed Divestment – Myanmar, aligned with Axiata’s commitment to maintaining a strong balance sheet and enhancing shareholder value, will be re-deployed to reduce debt,” it added. Edotco served in the Myabmar tower business since entering the market in 2015 after acquiring a 75% stake in Digicel Myanmar Tower Company (MTC). At the time, the tower business received a valuation of $220 million.

Axiata telecom brands
Axiata brands across its Asian markets have removed Ncell after its sale and purchase agreement with Spectrlite UK

Edotco operates over 3,000 towers across Myanmar. Besides, it also looks after 58,000 telco towers in nine countries in Asian countries. These include Indonesia, Cambodia, Malaysia, Laos, Bangladesh, Philippines, Pakistan, Sri Lanka, etc. Axiata is another foreign tech firm to exit Myanmar in recent years. Ooredoo and Telenor have also called it quits on their telecommunication business in the Asian country.  

Other telcos including Ooredoo and Telenor have exited Myanmar in the past couple of years. The challenging business environment largely emanates from the brutal civil war that continues to adversely affect the country from all sides. The news doesn’t come as surprising though. Axiata, while posting its fourth-quarter financial report in February 2024 had expressed a desire to exit the Myanmar market.

Check out: Latest Ncell Data Packs With Volume, Price, and Code

Axiata is setting priorities after all!

Much has been said about Axiata’s plan to exit Nepal especially given the value it’s selling the equity stakes in Ncell for. However, the company maintained that it’s quitting its telco unit in Nepal due to the challenging business environment. It has offered the same reasoning for the decision to leave Myanmar.

In Nepal, Axiata Group Berhad sold its 80% equity stakes in Ncell to Spectrlite UK for $50 million. The company bought the majority of shares in 2016 for $1.37 billion after purchasing Reynold Holdings. Further, the company had reasoned “unfair taxation and regulatory uncertainties” behind its bombshell exit plan. It also must be kept in mind that Ncell’s license was expiring in 2029 and Axiata would have earned nothing if it remained the owner till that time. Now as it faced the brunt of the issues in Myanmar, it swiftly ended the business there too. Maybe the company has prioritized a peaceful and steady business operation by running down its debt. That must come from selling off its “liabilities”.

Follow us on Facebook, Twitter, and Viber to get the latest news, and information about Nepal Telecom, Ncell, Smart Cell, ISPs, mobile apps, and phones in Nepal.

Latest Posts

  • Ntc profit declines by 49% in the third quarter of FY 2081/82
  • Ncell joins GSMA initiative to promote digital access for people with disabilities.
  • Snapdragon 7 Gen 4 chipset launched with NPU support
  • First-ever domain in Nepali language goes live
  • GSMA calls on world governments to cut telco spectrum prices
  • The Role of VPNs in Enhancing Online Security for Remote Workers
  • Ncell revises Flash Sale with unlimited social media access
Comments
Previous Post

CG to buy 50% shares in foreign telco Beeline Kyrgyzstan

Next Post

WorldLink launches Mega boost that doubles your WiFi at Rs 50

Dinesh

Dinesh

An experienced tech writer covering news mostly on telecommunication, internet, latest tech & trends, and Gadgets. Being a technophile, I am particularly fascinated by the evolution of mobile networks in Nepal from legacy networks (2G, 3G) to 4G (with VoLTE, VoWiFi, eSIM) and the prospects of the upcoming 5G, and equally enthralled by the development of internet from the dial-up connection to the 2 Gbps XGS-PON fiber broadband technology and their transformative impact in the country.

Related Posts

4G users in Nepal Ntc Ncell
4G Nepal

4G users in Nepal: 2.51 crores | Latest NTC, Ncell figures

April 23, 2025
Telecom Industry in the year 2081
Telco News

Telecom industry in 2081: Find the list of all that happened

April 13, 2025
CG Telecom
Telco News

CG Telecom’s equipment worth Rs 1.35 billion in waste?

April 7, 2025
Load More

You may also read

NB-IoT in Nepal

NB-IoT Explained | Advantages, Applications, Status in Nepal

May 13, 2025
Ntc FTTH

Nepal Telecom Fiber Internet: Price, Speed, Offer, Packs [2025]

April 16, 2025
Ncell CEO MD Jabbor Kayumov

Difficult to bring 5G in current situation- Ncell CEO Kayumov

May 15, 2025
Mobile Fraud

Understanding mobile fraud and how to stay safe

May 13, 2025
Nepal Telecom Ntc 4G

Nepal Telecom launches 4G network in Junichande, Jajarkot

May 11, 2025

How to identify Ntc Ncell Smart Hello mobile numbers? [2025]

January 28, 2025
NepaliTelecom

Nepalitelecom.com is a website/blog which provides information regarding telecommunication in Nepal along with Gadgets and has been doing some research for the telecom market in Nepal. We intend to do more of such survey/research in the Nepalese Telecom sector.

SiteMap

📢 Follow us on Viber to get the latest news, and information about Nepal Telecom, Ncell, ISPs, mobile apps, and phones in Nepal.

Popular Categories

Ntc | Ncell | Telco News | ISP | NTA | Gadgets

Recent Posts

  • Ntc profit declines by 49% in the third quarter of FY 2081/82
  • Ncell joins GSMA initiative to promote digital access for people with disabilities.
  • Snapdragon 7 Gen 4 chipset launched with NPU support

© 2025 Nepalitelecom

No Result
View All Result
  • Home
  • Telco News
  • Gadgets Nepal
  • Nepal Telecom
  • Ncell
  • Digital Nepal
  • How To
  • Editors’ Pick

© 2025 Nepalitelecom