Qatar Holding to acquire Kazakh Telecommunications company

Qatar’s Power International Holding, a diversified business conglomerate, will buy Kazakhstan’s Mobile-Telecom Service, a joint company of Tele2 and ALTEL brand, for $1 billion, said Kazakh Minister of Digital Development, Innovation and Aerospace Industry Zhaslan Madiyev on June 18.

According to him, Power International Holding will invest nearly 300 billion tenge (US$651.3 million) in infrastructure, reported Kazinform.

“There are obligations to build base stations and install 5G base stations. This will supposedly increase competition, and competition, as you know, leads to improved quality,” said Madiyev.

Tele2, an international telecommunications company founded in Sweden at the end of 1970, arrived in Kazakhstan in 2011.

ALTEL was the first Kazakh cellular mobile operator founded in 1994. Astana Times