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Kazakhstan’s major communications operator to be privatized

May 19 2015, 15:42

Image 0Some 49 percent of the shares of Kazakhstan's largest communications operator, Transtelecom, were sold as part of a privatization program in the country, Kazakhstan's national welfare fund Samruk-Kazyna said.

Samruk-Kazyna noted that the Kazakhstan Railways (Kazakhstan Temir Zholy) acted as the seller of the shares.

After the deal, some 51 percent of the shares in the Transtelecom will remain in possession of the Kazakhstan Railways.

The deal's cost exceeded 8.94 billion tenges (185.8 tenges = $1) [with a starting value of 6.82 billion tenges].

Transtelecom is one of the largest communications operators in Kazakhstan.

The company created in 1998, is located in the city of Astana, and employs 2,662 people.

Some 106 subsidiaries and affiliated companies of Samruk-Kazyna are subject to privatization in Kazakhstan as part of a comprehensive privatization plan for 2014-2016.

Source: trend.az

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