Veon sells stake in Kazakhstan wholesale JV TNS+ for US$137.5m

Veon sells stake in Kazakhstan wholesale JV TNS+ for US$137.5m

Global digital operator Veon announced on Tuesday that it has struck a deal to sell off its minority stake in Kazakh wholesale telecoms infrastructure services provider TNS+ to focus on its mobile operation, Beeline Kazakhstan.

Veon said it will sell its 49% stake in TNS+ to its JV partner, the DAR group of companies, for US$137.5 million, pending the usual regulatory approvals.

TNS+ is an international operator providing a wide range of telecoms services in voice, internet access, data transmission, transparent digital channels, IP VPN, IPLS and long-distance communication services to telcos, as well as large corporate clients.

Veon’s group CEO Kaan Terzioglu said the selloff is the latest move in its global “asset-light” strategy, and will enable Veon to devote more energy to developing Beeline Kazakhstan’s digital services, including financial services, digital entertainment and AI-powered software, as well as its second digital brand Izi.

“This divestment will allow us to focus more deeply in these areas while optimizing the management of infrastructure services in the capable hands of our partners,” he said.

Meanwhile, Alidar Utemuratov, group CEO and founder of DAR, said the deal to take over TNS+ represents his company’s positive long-term view of the Kazakhstan economy.

“During the last 17 years, TNS+ heavily invested in building extensive fibre network of more than 14,000 km throughout Kazakhstan, connecting all major cities and neighbouring countries,” he said. “We are continuing to invest in growing telecommunications infrastructure assets and digital innovations.”

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