Axiata and Ncell v. Nepal Axiata Investments (UK) Limited and Ncell Private Limited v. Federal Democratic Republic of Nepal (ICSID Case No. ARB/19/15)
United Kingdom
Shareholding of 100% in Reynolds Holding Limited which has an 80% stake in Ncell Private Limited, a mobile network operator in Nepal.
Claims arising out of the Government’s imposition of a capital gains tax on Axiata’s acquisition of Reynolds Holding Limited from TeliaSonera in 2016, levied on Axiata’s subsidiary Ncell.
Tertiary: J - Information and communication
61 - Telecommunications
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Kim, J.
van den Berg, A. J.
Friedland, P.
Decided in favour of State
Award dated 9 June 2023
348.00 mln USD
Data not available
Data not available
None - all claims dismissed at the merits stage