The FINANCIAL — Telia Company has agreed to transfer its interests in Kaztranscom, a company which operates a fibre network and provides ICT services for the corporate segment in Kazakhstan, to Amun Services.
The transaction is in line with Telia Company’s strategy to focus on the Nordics and Baltics.
Telia Company has held a minority stake in Kaztranscom, not to be confused with Kcell JSC, through the holding company Rodnik since 2012.
Amun Services is a company incorporated in the Dubai Multi Commodities Centre freezone in the UAE. It is part of the Amun Group, an international emerging markets focused private investment and advisory group.
Telia Company has conducted due diligence and background checks of the parties in this transaction.
The divestment is expected to have a limited financial effect for Telia Company.
The transaction is subject to regulatory approvals in Kazakhstan and is expected to close during the first half of 2018, according to Telia Company.