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. Last Updated: 07/27/2016

Kazakh Telecom Deal




ALMATY, Kazakhstan -- Three private Kazakh telecommunications companies announced a merger Thursday, creating the country's second biggest telecoms firm.


The new company, called Kazintel, will hold controlling stakes in Arna, a digital telecoms operator for Almaty, Astel, a nationwide data transmission firm and satellite operator Ratel.


"This [merger] will allow us not only to survive but to become a leader on the Kazakhstan telecommunications market," Arna Deputy CEO Mukhtar Abdrakhmanov said at a news conference.


He said Kazintel planned to take 25 percent to 30 percent of the Kazakh telecoms market over the next several years.