Telia Company agrees to sell Kcell stake to Kazakhtelecom - report

News Wireless Kazakhstan 11 JAN 2018
Telia Company agrees to sell Kcell stake to Kazakhtelecom - report

Telia Company has already agreed to sell its stake in Kazakhstan mobile operator Kcell to national operator Kazakhtelecom, reports Cnews.ru citing two undisclosed sources in the Kazakhstan telecommunication market. Telia owns a 24 percent stake in Kcell and the holding company Fintur holds a 51 percent stake. Fintur in turn is controlled by Telia Company, which owns a 58.5 percent stake in it. Turkcell owns 41.5 percent of Fintur.

Three entities participated in a tender to acquire the stake in Kcell. The prices offered varied from USD 800 milllion to USD 1.2 billion.

Kazakhtelecom also owns 49 percent of the voting shares in the joint venture founded with mobile operator Tele2 Kazakhstan. 

Categories:

Mobile

Companies:

Turkcell,  Kazakhtelecom,  Kcell,  Tele2 Kazakhstan

Countries:

Kazakhstan

Tags:

Shareholders & subsidiaries, Wireless, M&A buyouts & divestments

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