TeliaSonera increases its ownership in Kcell and prepares for IPO Teliasonera has signed an agreement with Kazakhtelecom to acquire 49 percent of the shares in GSM Kazakhstan LLP, operating under the brand Kcell. The purchase price is USD 1.519 billion. The transaction, which is subject to regulatory approvals, is expected to be finalized during the first quarter of 2012. TeliaSonera has further agreed, subject to certain conditions, to sell 25 percent of the shares minus one share in Kcell in an Initial Public Offering (IPO). The IPO is expected to be completed during 2012. Depending on the share price development after the IPO, TeliaSonera may have to make an additional payment to Kazakhtelecom. Presently, GSM Kazakhstan LLP is owned by Fintur Holdings (51%) and Kazakhtelecom (49%). Fintur Holdings B.V. is owned by TeliaSonera (58.55%) and Turkcell (41.45%). Once both steps of the transaction have been completed, TeliaSonera’s effective ownership in Kcell will be 61,74%. “This agreement is another step in the execution of our strategy of increasing ownership in core holdings. Through this transaction TeliaSonera increases its ownership in Kcell, a company where we already have management and operational control. Kcell is a clear market leader in Kazakhstan, the largest market in Central Asia, and has shown remarkable growth over the years. The fact that part of the company will be sold in an IPO will make it even more attractive”, said Tero Kivisaari, President, TeliaSonera Eurasia. TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 8.30 a.m. CET on December 22, 2011. For more information, please call the TeliaSonera press office 46-771 77 58 30, press@teliasonera.com Forward-Looking Statements Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.
TeliaSonera increases its ownership in Kcell and prepares for IPO
| Source: Telia Company AB