Telia Company says it has reached an agreement to transfer its interests in Kaztranscom to Amun Services. The transaction supports Telia's strategy to focus on the Nordics and Baltics. Details of the transaction's financial terms were not disclosed.
Telia, which bills itself as the largest telecommunications group in the Nordic and Baltic regions, says it has conducted due diligence and background checks on all parties involved in the transaction. The company expects the deal to close in the first half of 2018, subject to regulatory approvals in Kazakhstan. The deal will have a limited financial effect on Telia Company, says the telecommunications group.
Since 2012, Telia has held a minority stake in Kaztranscom through the holding company Rodnik. According to Telia, Kaztranscom operates a fiber-optic network and provides ICT services for the corporate segment in Kazakhstan.
Amun Services, part of the Amun Group, is incorporated in the Dubai Multi Commodities Centre free zone in the UAE. The Amun Group is an international private investment and advisory group with a focus on emerging markets
Telia Company also owns Telia Carrier, a fiber-optic network services provider that upgraded several submarine cable networks to enable support of 100G+ services to carriers and content and cloud providers in the Baltics, Russia, and elsewhere last January (see "Telia Carrier connects Stockholm to St. Petersburg, upgrades Baltic Sea submarine cable network").
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