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Kazakhtelecom sells 49% in GSM Kazakhstan to TeliaSonera

02 february 2012, 14:19
0
Kazakhtelecom HQ. Photo courtesy of vesti.kz
Kazakhtelecom HQ. Photo courtesy of vesti.kz
Kazakhtelecom has finalized the deal to sell its 49% in GSM Kazakhstan to TeliaSonera A.B., Kazakhtelecom’s Press Service reports.

GSM Kazakhstan is a mobile carrier providing its services under the brandnames of Kcell, Activ, Vegaline.

As was reported earlier, the deal is worth $1.519 billion.

“We are fully satisfied with the deal. The value of the Company has substantially increased. We are expecting further interest on the part of investors given the current success of the strategic investment projects”, the statement quoted Mr. Kuanyshbek Issekev, Chairman of Kazakhtelecom Board, as saying.

TeliaSonera plans to float a 25% stake minus one share through an IPO which is to be run in 2012.

Following the deal, GSM Kazakhstan is owned by Fintur Holdings (51%) and TeliaSonera (49%). Fintur Holdings B.V., in its turn, is owned by TeliaSonera (58.55%) and Turkcell (41.45%).

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