Tele2 AB telecom operator to leave Kazakh market

When Tele2 Group leaves the Kazakh market, Kazakhtelecom will control three (Altel, Kcell and Tele2) of the country’s four mobile operators.
Tele2 AB telecom operator to leave Kazakh market
16 January 11:43 2019 Print This Article

Swedish company Tele2 AB has announced its intention to sell its stake in Mobile Telecom Service (Tele2), the Tele2 Group-Kazakhtelecom joint venture, to Kazakhtelecom. The closing is expected in approximately six months.

Kazakhtelecom will purchase 75 percent of Kcell from Telia Company and Fintur, gives Tele2 AB the opportunity to exercise its put option and sell its shares in the joint venture to Kazakhtelecom. Tele2 AB filed a put option notice with Kazakhtelecom Dec. 28 to initiate the process.

The joint venture will continue its work and Tele2 AB will continue its management until the transaction is closed.

When Tele2 Group leaves the Kazakh market, Kazakhtelecom will control three (Altel, Kcell and Tele2) of the country’s four mobile operators.

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