the head of holding of state assets management Samruk offers in the frames of liberalization of Kazakhtelecom to reduce state share holding to 25%+1 share
14.08.06 15:20
/INTERFAX-KAZAKHSTAN, Almaty, August 12, 06/ - In the frames of
liberalization of telecommunicational branch of Kazakhstan the state can
reduce its share holding in Kazakhtelecom JSC, the basic operator of
connection in republic, the acting head of holding of state assets
management Samruk Sauat Mynbayev had announced.
"Samruk considers, that in conditions of holding liberalization of branch the
one blocking share holding 25%+1 share is enough for protecting state
interests. It does not breaks the limitation of not owning by foreigners (share
holding more than) 49%", - he said on yje visiting session of economic policy
Council on Saturday in Almaty.
At this in Samruk it is offering to hold liberalization of Kazakhtelecom within
two stages.
The first stage - "selling of 5% (of shares) on the internal market, in this
case Samruk owns 50%+1 from voting shares, thus on this stage the control
(state - IF-K) over Kazakhtelecom JSC wholly remains", - S. Mynbayev announced.
At this he noted, that in case of approval by Government the selling of 5% of
shares, the first stage of liberalization can be realized in the current year.
"If such approval by Government (with plans approval - IF-K)will take place it
can be realized by the end of current year" - S. Mynbayev said.
With all this, he continued, it is necessary to "regulate understandable the
methods of there (shares - IFK) selling - method of signing, auctions on
non-organized markets, method of open trades and so on".
"With objectives of reanimation of internal market and maximum coverage of
potential investors the corresponding offering (5% of shares - IF-K) to hold
only on internal market among unlimited number of buyers, for example,
natural persons. Other methods, probably, also can not be excluded, but with
conditions of substantial subdivision of selling share holding", - the head of
holding Samruk noticed.
"The second stage - is the leading (of state share holding - IF-K) to 25%+1
share. This stage is complex and first of all it is necessary to decide
conceptually is it enough the 25% share holding for the protection of state
interest" - S. Mynbayev stressed.
"The basic argument of those who doubt in necessity of such reduction of
state share holding is the desire to keep control over connection lines trunks,
but we think, that the blocking share holding allows to do that with making
some changes in the law of national security, and it can be possible to make
technologically wholly control", - he said.
"If this question will be decided in conceptual view, further the serious
questions will appear: determination of method of offering, will it be IPO or
direct selling. Probably it is appropriate to make IPO, but if do IPO, then in
what proportions on internal and external markets? Probably here it can be
accepted the position that it must be done 50/50. It is all the details which
can be decided." - the head of state holding noted.
By information of S. Mynbayev at the present time Samruk has 55.65 from
voting shares (of Kazakhtelecom - IF-K), correspondingly - private
shareholders 44.4%.
"Kazakhtelecom is the leading connection operator in Kazakhstan, it gives
the services of local, intercity, international voice telephony, network
services of data transferring, services of sputnik network Kulan, cable
broadcasting and others.
At the present time except the state the shares of company also belong to:
Bodam BV - 15,31%, Bank of NY - 9,28%, Central Asian Industrial Holdings
NV - 8,65%.
By the totals of 2005 Kazakhtelecom paid more than 3 bn. tenge (current
122.58/$1) of dividends on state share holding.
The decree of creation the state holding Samruk was signed by president
Nursultan Nazarbayev at the end of January of the current year.
Government had determined five national companies, state stakes of which
will be transferred to holding during the first stage, except Kazakhtelecom -
Kazpochta JSC, companies of management the electric networks KEGOC
JSC, oil and gas company NC KazMunayGas JSC, and railway company
Kazakhstan temir joly JSC (KTJ).
Kazpochta, KEGOC, KazMunayGas and KTJ are wholly state companies.
[2006-08-14]