Kazakhtelecom to sell one of its mobile operators in 2024, says Minister

Bagdat Mussin, Kazakhstan's Minister of Digital Development, Innovation and Aerospace Industry, has announced plans to sell one of Kazakhtelecom's mobile operators in 2024, El.kz reports.

Musin stressed that this measure is aimed at creating conditions for the formation of a healthy market competitive environment in the country. Currently, two companies, Kcell and Tele2, are undergoing a detailed review to determine their market value.

The minister described a process that assumes that any investor conducts verification actions before buying.

"Now there are checks and discussion of the price, after which the deal will be made. Usually, such procedures take from one to three years, but I expect that Kazakhtelecom will fulfill this order next year," he said.

Musin also noted that any comment on this issue could affect the evaluation process and therefore preferred to refrain from details. Earlier, he had already announced plans to withdraw Kcell from the structure of Kazakhtelecom by the end of 2023.