Nepalese operator Smart Telecom will hunt for an international investment partner, after its shareholders resolved an ownership dispute.
The company plans to bring in a strategic partner with the required telecom sector experience within six months, the Himalayan Timesreported, citing a Smart Telecom investor.
Smart Telecom has been embroiled in an ownership dispute since November last year, when investor River Road announced it had acquired a 54% stake in the company.
The main investor in Smart, Lal Sahu Distribution, accused River Road of using forged documents to cement the change in ownership.
In the newly-negotiated compromise, the rival investors have agreed to create a separate company with equal ownership, sell a certain percentage of Smart Telecom's shares to the new entity and bring in the foreign investor partner.
Smart Telecom has a unified telecom license, and feels that teaming up with a foreign investor is the best way to secure the substantial funds needed to expand its mobile network nationwide.