Second Kyrgyzmobilecompany set

By bne IntelliNews November 26, 2012

bne -

The Kyrgyz government is to make a second attempt to auction off a 75% stake in mobile operator Kyrgyzmobilecompany on December 25.

The Kyrgyzstan State Property Management Fund has set a starting price of KGS152.2m ($3.26m) for the stake. The government will retain the remaining 25% in the Bishkek-based Kyrgyzmobilecompany which is a provider of mobile telecoms and electronic data services, and holds GSM and 3G licences.

The fund previously attempted to sell off 75% of the company earlier this year, with an auction scheduled for August 21. However, without a single bid registered, the auction was cancelled on August 17.

Kyrgyzstan has also failed to sell off another mobile company Alfa Telecom, the operator of services under the Megacom brand, this year. The government owns 49% of Alfa, which it took over after the April 2010 revolution.

While the mobile telecoms sector is one of the most consistently healthy sectors in Kyrgyzstan's troubled economy, concerns over the stability of the country after two revolutions within six years, have deterred foreign investors.

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