Kcell announces acquisition of Telia Company's holdings in Kcell by Kazakhtelecom JSC

12.12.18 15:35
KASE, December 12, 2018/ – Kcell (Almaty), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote Kcell Joint Stock Company ("Kcell” or the "Company") (LSE, KASE: KCEL), notes that Telia Company has announced that its total holdings in Kcell have been acquired by Kazakhtelecom JSC. Following Kcell's IPO at the end of 2012, Telia owned a 24 percent direct stake in the Company as well as a further holding via its 58.55 percent stake in Fintur Holdings B.V. (Fintur), which owns 51 percent of Kcell. The remainder of Fintur is held by Turkcell. Kcell provides the text of the announcement below: Telia Company and Fintur Holdings B.V. (Fintur), jointly owned by Telia Company and Turkcell, have agreed to sell their 75 percent holding in the leading Kazakhi telecommunications operator Kcell JSC, to the telecom operator Kazakhtelecom JSC, a company controlled by the government of the Republic of Kazakhstan through the sovereign wealth fund Samruk-Kazyna. Telia Company has also signed an agreement to acquire Turkcell’s share in Fintur in a separate transaction to become the sole shareholder of the company, which enables Telia Company to repatriate cash from Fintur. The full announcement is available on Telia Company's website https://www.teliacompany.com/en/news/press-releases/2018/12/telia-company-divests-itsinterest-in-kcell-and-dissolves-fintur-partnership-with-turkcell/ unquote The full press release is available on KASE website – http://kase.kz/files/emitters/KCEL/kcel_reliz_121218_1.pdf [2018-12-12]