Mobile Telecom-Service Tele2 Kazakhstan

Kazakhstan Tele2 It appeared in the Republic in 2010, completing the purchase of a local telecom operator.

History

2024: Power International Holding bought Mobile Telecom-Service

On February 14, 2024, the Kazakh investment holding Samruk-Kazyna announced that the telecommunications operator Kazakhtelecom had entered into an agreement to sell one of its mobile assets, Mobile Telecom-Service LLP (operating under the Tele2 and Altel brands). The buyer is Qatari holding Power International Holding (PIH).

The decision to sell Mobile Telecom-Service LLP was made on January 20, 2024 at a meeting of the State Commission for the Modernization of the Economy of the Republic of Kazakhstan. The corresponding trilateral agreement was signed in Qatar by Kazakhtelecom, Samruk-Kazyna (is the majority shareholder of Kazakhtelecom JSC) and Power International Holding.

Pexels

We have only recently entered into negotiations and, of course, today's agreement only fixes our intention to deal with Power International Holding and in the future it will be necessary to discuss and consolidate all the conditions and procedure for the sale and purchase, so it is too early to talk about specific figures, the amount of the transaction, etc., - said the chairman of the board of Kazakhtelecom Kuanyshbek Esekeev.

Yesekeev calls Power International Holding "an authoritative and stable company that is very well known in Kazakhstan." It is a Qatari conglomerate covering various sectors of the economy. The company employs approximately 65 thousand employees, about 1000 different projects have been implemented around the world. In particular, in October 2022, within the framework of the official visit of the Emir of Qatar to Kazakhstan, the holding signed a memorandum on the construction of a large international medical complex in Astana worth approximately $300 million.

We are glad to sign this agreement on the acquisition of a mobile operator in Kazakhstan, and of course, the expansion of PIH's business in a country where the investment climate is very favorable and the business environment is developed, "says Mohammed Mutaz Al-Hayat, Chairman of Power International Holding.[1]

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