je.st
news
Tele2 agrees Kazakhstan joint venture with Altel
2015-11-04 08:36:00| Telecompaper Headlines
(Telecompaper) Tele2 announced an agreement to merge its mobile business in Kazakhstan with Altel, the mobile operator owned by Kazakhtelecom. The new business will have more than 5.6 million subscribers and a market share of around 22 percent. In addition, Tele2 will benefit from Altel's roll-out of a 4G network. Tele2 and Kazakhtelecom will own respectively 51 and 49 percent of the voting rights and 49 and 51 percent economic interests in the joint venture. Tele2 will retain management control. As part of the transaction, Tele2 will purchase Asianet's 49 percent stake in Tele2 Kazakhstan for an upfront consideration of SEK 128 million (USD 15 million) and a future earn-out equivalent to an 18 percent economic interest in the joint venture. This will give Tele2 a fully diluted economic interest of 31 percent, taking account of Asianet's earn-out.
Tags: joint
venture
kazakhstan
agrees
Category:Telecommunications