TeliaSonera to buy 49% of Kazakhstan's Kcell, IPO planned in 2012.

By bne IntelliNews December 26, 2011
TeliaSonera, the Scandinavian telecoms holding, has entered into agreement with Kazakhtelecom to acquire 49% of the shares in GSM Kazakhstan LLP, operating under the brand Kcell. The sum of the deal was USD 1.519bn, TeliaSonera said. The transaction, which is subject to regulatory approvals, is expected to be closed during Q1/2012. TeliaSonera has further agreed, subject to certain conditions, to sell 25% of the shares minus one share in Kcell at an Initial Public Offering (IPO). The IPO is expected to be finalized in 2012. GSM Kazakhstan LLP is owned by Fintur Holdings (51%) and Kazakhtelecom (49%). Fintur Holdings B.V. is owned by TeliaSonera (58.55%) and Turkcell (41.45%). Once both steps of the transaction have been completed, TeliaSonera's effective ownership in Kcell will be 61.74%. In Kazakhstan there are three GSM mobile operators: GSM Kazakhstan/Kcell, KaR-Tel (Beeline brand controlled by Russia's VimpelCom) and Mobile Telecom Service LLP (owned by Tele2).

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