Almaty. October 1. Information Center - Kazakhstan’s
state provider KT (Kazakhtelecom) is selling a 24% stake in its majority-owned
mobile subsidiary Kcell, Developing Telecoms reports.
75% of Kcell, and will offer the 24% holding “to a wide range of investors at
open auctions” via the Kazakhstan Stock Exchange (KASE). According to
CommsUpdate, the operator aims to attract long-term capital as it seeks to
develop its offering, which includes Kcell, fixed-line, and an additional
mobile provider Mobile Telecom Service.
is also intended to reduce the holdings of public sector entities in the
economy in order to encourage investment. KT expects the move to boost Kcell’s
market value, although the company emphasised that it will continue to be a
majority shareholder in Kcell and will retain the according rights.
worked with KT to implement Kazakhstan’s first joint convergent products, with
the companies stating that “such synergy will help to achieve the business
goals set in Kcell’s new strategy that involve the transformation from classic
mobile operator into a fully digital operator with its own strong technological
base and IT products development.”