TeliaSonera has been moving to finalize the sale of its 60.4 percent stake in Nepali telecom giant Ncell to Malaysian-based Axiata, but the government hasn’t decided whether or not to charge capital gains tax on the country’s biggest ever acquisition deal. There are differing views regarding the matter, and the authorities are studying several aspects of the mega sale. The deal between TeliaSonera and Axiata is valued at Rs140 billion ($1.4 billion). As per the agreement signed between the two companies, TeliaSonera is selling its shares in Ncell to Axiata for around $1.030 billion. The Malaysian company will also be buying the shares of the Visor Group of Kazakhstan which owns 19.6 percent of Ncell. The deal means TeliaSonera will be pulling out of Nepal. It had entered the country in 2008 after buying a majority stake in the then Spice Nepal from the Visor Group.
