Kazakhtelecom makes resolves to put up for sale the entire holding or the part of it in GSM Kazakhstan after corporatisation

/INTERFAX- KAZAKHSTAN, Astana, March 5, 07/ - The question of selling the entire holding or 49% share of the mobile communication operator of GSM-900 standard - the company GSM Kazakhstan is being considered by the national company Kazakhtelecom after it is reincorporated as the joint company. "Diverse variants will be considered including selling of the entire share or the part of it by the company Kazakhtelecom. First of all, in order to gain transparency, we would like to fund GSM Kazakhstan, and then to try to occupy the separate market segment," the director-manger of Kazakhstan holding for management of state assets Samruk (the state holding Samruk) for Kazakhtelecom JSC, the chairman of the Council of directors of this telecommunication company Beybit Akhabaev, while being interviewed by the agency Interfax-Kazakhstan. As it was known, 51% share in GSM Kazakhstan (the trade brands K'Cell and Activ) belongs to Finnish-Swedish-Turkish company FinTur. His company is still working in form of the partnership with limited liabilities (LLP). The representative of Samruk suggests that GSM Kazakhstan to be reestablished in the joint stock company this year. "The general meeting of the company's members voted for corporatisation. However, it will be delayed for some time. I guess the company will come over soon. I consider that it is possible to perform corporatisation this year," B. Akhabaev said on these concerns. At that, he did not rule out the possibility of the initial shares offering (IPO) of GSM Kazakhstan on the international exchange floors in the contest of funding the company. "It is important to be reincorporated as the joint stock company, and the market provides with many different instruments, just take your choice," the speaker said. In February of this year the third operator of the mobile communication in Kazakhstan of GSM-900 standard is Mobile Telecom Service (MTS), 51% share in which belongs to Kazakhtelecom JSC, and the rest 49% - to attracted portfolio investor. MTS represented the brand NEO to the market. One more GSM-operator of mobile communication is Car-Tel on the republican market (with trade brands K-Mobile and Beeline), controlled by Russian Vympelkom. Kazakhtelecom is completely owned by the company Altel (the trade brands Dalacom and PAThWORD), providing services of the mobile communication in CDMA format. Besides, the national company controls the telecommunication company Nursat (an internet-provider). Kazakhtelecom is the leading operator of Kazakhstan communication, which occupies the dominating position on the local market. The state holding of the company in the amount of 52% is in the ownership of the state holding Samruk, which was founded in January of last year, and it was passed the state holdings of some big companies in Kazakhstan. [2007-03-05]