Malaysian Telecommunication giant Axiata decides to exit Ncell due to the overwhelming losses incurred in the telecommunication business in Nepal.

According to a statement released in Wednesdays, Axiata bore a huge loss due to the adverse economic circumstances of Nepal and it decided to exit Nepal by selling the Ncell.

It had purchased 80% of the Ncell's shares seven years ago. The remaining 20% share are held by Sunivera Capital Ventures owned by the investors of Nepali origin. 

It is yet not clear that who will takeover the 80% of the Ncell's shares. It has gone through the huge controversy
due to the tax payment issue. It is considered as on of the biggest tax issue in the history of Nepalese economy.