Kazakhstan to sell Mobile Telecom-Service to Qatar's Power International Holding for $1bln

Qatar’s Power International Holding will purchase Kazakhstan’s Mobile Telecom-Service company for $1 billion, Kazinform News Agency quotes Minister of Digital Development Zhaslan Madiyev as saying at the Government’s weekly briefing today.

Minister Madiyev said that the arrival of the new investors is a very important initiative. It means “new investments, expansion of investor base by means of attraction of a new name, raising private mobile providers' competitiveness at the market. The deal amounts to around $1 billion, he noted.

In his words, Power International Holding will invest some 300 billion tenge in infrastructure, such as construction of base stations and installation of 5G stations.

“We believe this will enhance competition, and competition will result in improvement of quality,” said Zhaslan Madiyev.