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TeliaSonera AB Updates on Acquisition of WiMax Operations from Alem Communications and Agreement with Visor Group to Make Investment in KazTransCom AO


Friday, 28 Dec 2012 11:30am EST 

TeliaSonera AB announced that 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, 2012, and they are expected to complete in early January 2013. With the acquisition of a WiMax network in six cities TeliaSonera also secures frequencies in the 2.5/2.6 GHz band. 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.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. 

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