Kazakhtelecom Completes Sale of Tele2 and Altel
The joint-stock company has completed a deal with the Qatari company Power International Holding (PIH) to sell a 100% stake in Mobile Telecom-Service LLP, Orda reports, citing the company's press service.
The deal's foundation was laid in Doha last February when Kazakhtelecom, PIH, and the Samruk-Kazyna fund signed an initial agreement. The parties finalized the sale agreement in June.
Mobile Telecom-Service, which operates the Altel and Tele2 brands in Kazakhstan, has a workforce of about 2,000 employees and maintains over 140 retail locations across the country.
The Ministry of National Economy had previously amended the 2021-2025 privatization plan to require Kazakhtelecom to transfer Mobile Telecom-Service LLP to the private sector.
Kazakhtelecom had once acquired Tele2 and Altel operators for 255 billion tenge, adding them to its telecommunications portfolio alongside Kcell and Activ.
Original Author: Raushan Korzhumbekova
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