The sale of Kazakhstan’s Mobile Telecom-Service (MTS) operator, which operates under the Altel and Tele2 brands, is expected to be completed by January 2025, according to Qatari Power International Holding, the buyer of MTS.
«Power International Holding is finalizing the acquisition of telecommunications operator MTS, with the deal expected to close by January 2025. This acquisition will significantly enhance the telecommunications infrastructure in the region and strengthen its partnership with Kazakhstan,» the company said in a statement.
The current owner of MTS is Kazakhtelecom, whose principal shareholder is the Samruk Kazyna National Welfare Fund. In September, Minister of National Economy Nurlan Baibazarov pledged that the company would have been sold to Qatari investors before the end of the month.
At the end of October, Bagdat Mussin, CEO of Kazakhtelecom, announced that the deal would close before the end of the year, or at the very least, not later than the first quarter of 2025. He claims that the contract has already been signed, but because Kazakhstan is working with a foreign investor, it must adhere to its national procedures. He also added that the parties seek mutually beneficial terms to satisfy all interests and ensure timely payment.
In the summer, Minister of Digital Development Zhaslan Madiyev stated that the deal would be valued at roughly $1 billion. Kazakhtelecom also estimated the asset’s value at $1.012 billion.
