Reuters reported on 18 June 2024 that Kazakhtelecom, one of Kazakhstan's largest telecommunication companies, will sell one of its two mobile communications subsidiaries, MT-S, to Qatari company Power International Holding for $1.1 billion.
Kazakhstan's digital development Minister, Zhaslan Madiyev, announced that the new investor would also be working to expand the MT-S network.
The sale was approved by the shareholders of Kazakhtelecom, which is state-controlled, in early June 2024; however, the price was not disclosed.
Kazakhtelecom's mobile subsidiaries MT-S and KCell control over 60% of Kazakhstan's mobile communications market.
Source: Reuters
Cover image credit: Power International Holding
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