Kazakhtelecom sells 49% stake in GSM Kazakhstan to TeliaSonera.

By bne IntelliNews February 3, 2012
Incumbent fixed line operator Kazakhtelecom sold a 49% stake in mobile operator GSM Kazakhstan to TeliaSonera. GSM Kazakhstan provides its services under the brands of Kcell, Active and Vegaline. The deal was worth USD 1.519bn. TeliaSonera plans to float a 25% stake minus 1 share through an IPO to be made in 2012. Following the deal, GSM Kazakhstan will be owned by TeliaSonera (49%) and Fintur Holding (51%) in which TeliaSonera holds 58.55% and Turkcell -41.45%.

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