TeliaSonera is planning to acquire 49
percent stake in GSM Kazakhstan, which is operating under the brand Kcell, for
$1.5 billion.
TeliaSonera will also sell 25 percent of
the shares minus one share in Kcell in an initial public offering (IPO).
The IPO is expected to be completed during
2012. Depending on the share price development after the IPO, TeliaSonera may
have to make an additional payment to Kazakhtelecom.
Presently, GSM Kazakhstan owned by Fintur
Holdings (51 percent) and Kazakhtelecom (49 percent). Fintur Holdings is owned
by TeliaSonera (58.55 percent) and Turkcell (41.45 percent). Once both steps of
the transaction have been completed, TeliaSonera’s effective ownership in Kcell
will be 61.74 percent.
“This agreement is another step in the
execution of our strategy of increasing ownership in core holdings. Through
this transaction TeliaSonera increases its ownership in Kcell, a company where
we already have management and operational control,” said Tero Kivisaari,
president, TeliaSonera Eurasia.
Kcell is a clear market leader in
Kazakhstan, the largest market in Central Asia, and has shown remarkable growth
over the years. The fact that part of the company will be sold in an IPO will
make it even more attractive,” Kivisaari added.
TeliaSonera provides network access and
telecommunication services in the Nordic and Baltic countries, the emerging
markets of Eurasia, including Russia and Turkey, and in Spain. TeliaSonera aims
to become number one or two in all their markets, providing the best customer
experience, high quality networks and cost efficient operations.
TeliaSonera is also the leading European
wholesale provider with a wholly-owned international carrier network. In 2010,
net sales amounted to SEK 107 billion, EBITDA to SEK 37.7 billion and earnings
per share to SEK 4.73.
By Telecomlead.com Team
editor@telecomlead.com
