Wednesday, February 1, 2012

TeliaSonera Increases Stake in GSM Kazakhstan

TeliaSonera has increased its ownership in in GSM Kazakhstan LLP, operating under the brand Kcell, by acquiring a 49 % stake in the company from Kazakhtelecom. The price paid was US$1.519 billion.


TeliaSonera has further agreed, subject to certain conditions, to sell 25 percent of the shares minus one share in Kcell in an Initial Public Offering (IPO). The IPO process has been initiated, and is expected to be completed during 2012. Depending on the share price development after the IPO, TeliaSonera may have to make an additional payment to Kazakhtelecom.


After the transaction, GSM Kazakhstan LLP is owned by Fintur Holdings (51%) and TeliaSonera (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 61.9%.
http://www.teliasonera.com
http://www.kcell.kz/

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