Kyrgyzstan seeking buyer for state operator MegaCom

Kyrgyzstan seeking buyer for state operator MegaCom

The government of Kyrgyzstan is reportedly evaluating a number of proposals for the sale of the state-owned mobile provider MegaCom, with the National Bank of Kyrgyzstan one of several potential buyers.

Kyrgyzstan’s Cabinet of Ministers made the proposal to sell MegaCom on 29th July 2021, with the country’s unicameral Supreme Council (the Jogorku Kenesh) approving the motion.

Local news agency quoted chairman of the Fund for State Property Management Mirlan Bakirov as saying that “Parliament agreed to include MegaCom in the privatisation programme. The company is now undergoing an inventory procedure. A special commission will be created; all procedures will be open.”

Bakirov noted that in 2019 the operator’s value was assessed as KGS19 billion (USD225 million) before being reduced to KGS14 billion. The Cabinet of Ministers is now conducting an audit of the company’s asset value.

TeleGeography notes that Kyrgyzstan’s government has unsuccessfully attempted to sell MegaCom on a number of previous occasions.

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