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).
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Kazakhstan in talks with McDonald's.

Kazakhstan is in talks over McDonald's enter to the Kazakh market, President of the Eurasian Franchising Association, Beknur Kissikov has said. He added that the main reasons that McDonald's is ... more

Kazakhstan to establish institute for energy and energy effectiveness.

Kazakhstan will establish institute for energy and energy effectiveness, deputy PM and Minister of Industry and New technologies Aset Isekeshev has informed. The new entity should start operating ... more

Kazakhstan to diminish oil products imports from Russia.

Kazakhstan plans to diminish oil products imports from Russia, according to Kuandyk Kulmurzin Director of oil industry development department in Oil and Gas Ministry. He explained that the reason ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    4 days ago
  5. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    9 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss