28 December 2012 The formal conditions to complete the acquisition of the WiMax operations of the Kazakh Company Alem Communications, from its owner Midas Telecom, and an indirect minority investment in KazTransCom, through the purchase of shares from Alatau LLP, have been met. The intention to carry out the transactions was announced on August 14, and they are expected to complete in early January 2013.
With the acquisition of a WiMax network in six cities TeliaSonera also secures valuable frequencies in the 2.5/2.6 GHz band, which are important in order to cater to an anticipated increased demand for mobile data. The frequencies are compatible for use with mobile data transmission technologies such as 4G.
Following completion of the transactions, Kcell, TeliaSonera's subsidiary in Kazakhstan, will have full access to these businesses on commercial terms. It already deploys the backbone capacity of KazTransComs national fibre optic network, and it has started to prepare for the deployment of the frequencies of Alem Communications. TeliaSonera intends to transfer to Kcell the WiMax operations, including frequencies, and its investment in KazTransCom, subject to satisfaction of certain conditions as disclosed in the Kcell IPO prospectus.
I am very pleased that we have been able to finalize these transactions which are crucial for Kcell's continued leadership in mobile data. This reaffirms our strategic commitment to develop mobile technologies and services in Kazakhstan. The transactions will secure frequencies, as well as further backbone capacity at competitive prices, for Kcell in the years to come. This is very important for Kcell's future competitiveness, as data volumes continue to grow rapidly, said Tero Kivisaari, President, Mobility Services and Business Area Eurasia, TeliaSonera.
The total value of the transactions is USD 205 million (subject to any post completion accounting adjustments), of which the Wimax acquisition from Midas Telecom represents USD 170 million, and the minority investment and option rights related to KazTransCom represents USD 35 million. Midas Telecom LLP is owned by Ms. Aigul Nuriyeva and Alatau LLP is owned by Ms. Raushan Sagdiyeva.
Note: These transactions are described in more detail on pages 5759 of the Kcell IPO prospectus dated December 12th 2012 which is available on www.kcell.kz/en
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 5.30 p.m. CET on December 28, 2012.
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28 December 2012 The formal conditions to complete the acquisition of the WiMax operations of the Kazakh Company Alem Communications, from its owner Midas Telecom, and an indirect minority investment in KazTransCom, through the purchase of shares from Alatau LLP, have been met. The intention to carry out the transactions was announced on August 14, and they are expected to complete in early January 2013.
