Kazakhstan Sells Majority Stake in Mobile Telecom Services to Qatari Company for $1.1 Billion

Posted on by Samantha Johnson
Qatar’s Power Holding Company Acquires Kazakh Telecom Subsidiary for $1.1 Billion
1 min read

On Tuesday, the government of Kazakhstan announced that Mobile Telecom Services (MT-S), a subsidiary of state-owned Kazakh Telecom, will be sold to Qatari company Power International Holding for $1.1 billion. The Minister of Digital Development, Zaslan Madeev, stated that the new investor has committed to expanding the MTS network.

Kazakh Telecom’s shareholders approved the sale earlier this month, although the exact value of the deal was not disclosed by the company. Through its two subsidiaries, MT-S and KCELL, Kazakh Telecom currently holds over 60 percent of the mobile communications market in Kazakhstan.

Samantha Johnson https://newscrawled.com

As a content writer at newscrawled.com, I dive into the depths of information to craft captivating and informative articles. With a passion for storytelling and a knack for research, I bring forth engaging content that resonates with our readers. From breaking news to in-depth features, I strive to deliver content that informs, entertains, and inspires. Join me on this journey through the realms of words and ideas as we explore the world one article at a time.

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