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Samruk Kazyna may bid for KyrgyzMobile Company

22 june 2011, 17:09
0
Kazakhstan’s Sovereign Wealth Fund Samruk Kazyna will be offered to acquire a controlling stake in OJSC "KyrgyzMobileCompany", a new mobile carrier, in neighboring Kyrgyzstan, KazTAG reports.

According to Ilya Chernyi, Head of the Kyrgyz State Property Ministry’s Department for Management of Strategic Assets, executives of Samruk-Kazyna Sovereign Wealth Fund will be visiting Kyrgyzstan within a few days. The draft structure of the mobile network operator company will be presented to them.

“Samruk-Kazyna is not the only company that can become the controlling stake holder. 75 telecommunications market players came into our view. All of them will be invited to bid", he noted.

“Developing a third generation mobile wire-free communication network 3G calls for a substantial investment. The ultimate 52 per cent share purchaser in OJSC "KyrgyzMobileCompany" will get not only shares, but also a GSM and WCDMA/UMTS license, enabling to develop the network at the purchaser’s discretion", he emphasized.

51% of "KyrgyzMobileCompany", a new mobile carrier will be put up for auction with a starting price of 92 million soms. The authorized capital of the Company is 100 000 soms, divided into one thousand of common shares with a par value of 100 soms each. Initially, the government of Kyrgyzstan will be the sole owner.

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