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Tengrinews.kz – Timur Turlov, the founder of Freedom Holding Corp., is acquiring Transtelecom, one of Kazakhstan's largest telecommunications companies, citing a statement from the entrepreneur's press service.
On December 11, the shareholders of Transtelecom approved an updated board of directors, marking the beginning of the acquisition process by structures associated with Turlov. Both parties have agreed on key terms of the deal and are now moving toward obtaining regulatory approvals from the government.
The press service noted that the strategy for the company’s future development will be considered over time. At this stage, no immediate changes to the management team or operational model are planned.
It is worth noting that Nuraly Aliyev was previously a co-owner of Transtelecom, and now Galimzhan Esenov holds that position. The parties have agreed on the key parameters of the deal and are preparing for regulatory approval.
In 2015, it was reported that Transtelecom was privatized for 9 billion tenge. In April 2022, the government suggested investigating the potential damage caused to the state by the sale of Transtelecom.
