Tele2 to combine Kazakhstan biz with Altel

Tele2 AB

Tele2 Group and rival Kazakhtelecom have decided to merge their mobile businesses in Kazakhstan by floating a 51:49 joint venture.

The new business will have more than 5.6 million subscribers and a market share of around 22 percent. Altel is the fourth largest national mobile business fully owned by Kazakhtelecom and operator of the country’s only current 4G network.

“This transaction will enable our customers to gain access to Altel’s 4G network and to benefit from its accelerated rollout across Kazakhstan,” said Allison Kirkby, president and CEO of Tele2 Group.

Tele2 will retain management control. As part of the transaction, Tele2 will purchase Asianet’s existing 49 percent stake in Tele2 Kazakhstan for $15 million will have a economic interest of 31 percent taking account of Asianet’s earn out.

Both operating entities will be owned via a joint venture holding company incorporated in the Netherlands. In addition, Tele2 will have the authority to dismiss any employee.

[email protected]


More like this

AT&T faces scrutiny over cybersecurity spending following data breach impacting 109 mn

Telecom operator AT&T has disclosed a significant data breach...

TPG Telecom and Optus network sharing deal faces review in Australia

Australia’s competition watchdog, the Australian Competition and Consumer Commission...

Telecoms handle energy costs focusing on sustainability

European telecoms are adopting green initiatives and investing in...

Liberty Global considers selling stake in Swiss telecom unit Sunrise

Liberty Global is exploring the sale of a stake...