Kazakhstan’s state-backed operator Kazakhtelecom (KT) is planning to sell one of its mobile subsidiaries before the end of this year.
Local outlet Profit.kz reported that following a Cabinet meeting, the news was announced by Kazakhstan’s Minister of Digital Development Bagdat Musin. The minister noted that two parties were conducting due diligence on the available mobile assets, although he declined to name them.
KT holds controlling stakes in Kcell and Mobile Telecom Service (Tele2-Altel). It in turn is controlled by Kazakhstan’s Sovereign Wealth Fund Samruk-Kazyna. Musin confirmed that the fund is “working on due diligence” for the interested parties, adding that it is “checking by an interested player for compliance with the price and the asset being purchased.”
As reported by TeleGeography, KT completed a 100% takeover of its associate Tele2-Altel in June 2019. Since the operator had already acquired Kcell in December 2018, KaR-Tel (Beeline) was the only independent rival, making the market an effective duopoly despite merger conditions that obliged Kcell and Tele2-Altel to remain separately branded operators.