Kazakhstan wants to offer on exchange 4.6% of Kazakhtelecom JSC (Kazakhstan)

/REUTERS, Astana, Raushan Nurshayeva, title of IRBIS, September 18, 06/ - Kazakhstan state holding Samruk, which manages the state interests of five big companies, plans to sell 4.6% of shares of Kazakhtelecom on the domestic market, thus, having decreased the state presence in the biggest in the country operator of fixed connection, is reported in documents of the holding. The state owns 50 plus one share of Kazakhtelecom. "The state holding will accomplish the sale of 4.6% of shares of Kazakhtelecom JSC through the stock exchange of the Republic of Kazakhstan among maximum quantity of individual people," is said in materials of the state holding, distributed to journalists. "The corresponding draft regulations of the government...at present time are under consideration in interested state bodies." Sauat Mynbayev, acting as the executive director of the state holding, informed Reuters that this project is still in the discussion stage. Oil and gas company Kazmunaygas, railway monopoly Kazakhstan Temir Zholy, the operator of main electricity supply network KEGOC and Kazpost are part of the state holding Samruk. Assets of Kazakhtelecom as of June 30, 2005 increased to KZT195.547 bn. ($1.6 bn.) from KZT161.697 bn. at the beginning of the year. The company owns 49% of the biggest GSM-operator of the country - GSM Kazakhstan (trade marks K'Cell and Activ). Kazakhtelecom also owns 50% of shares of Altel ОSC, working in CDMA standard, and 41.25% of satellite company Nursat. ($1=KZT126.27) [2006-09-18]