Kazakhtelecom (KZTK.KZ), opens new tab will sell MT-S, one of its two mobile communications subsidiaries, to Qatar's Power International Holding for $1.1 billion, the Kazakh government said on Tuesday.
Zhaslan Madiyev, Kazakhstan's digital development minister, said the new investor would also commit to expanding the MT-S network.
Shareholders in state-controlled Kazakhtelecom approved the sale this month, but the firm had not disclosed the sale price.
Kazakhtelecom controls more than 60% of Kazakhstan's mobile communications market through subsidiaries MT-S and KCell.
Kazakhtelecom controls more than 60% of Kazakhstan's mobile communications market through subsidiaries MT-S and KCell.
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