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. Last Updated: 07/27/2016

Golden Buys Shares

ALMATY, Kazakhstan -- Telecom and Internet company Golden Telecom said Thursday it was buying 60 percent of Kazakh provider Nursat with an option to acquire a further 20 percent within two years.

The deal would be completed when Golden buys 60 percent of Nursat's shares for $10.1 million from telecommunications-equipment maker Lucent Technologies, Kazinformtelekom and a fund for converting military equipment for civilian use.

The additional 20 percent would come from Kazinformtelekom. The remaining 20 percent of Nursat belongs to the state.

Nursat is one of the largest providers of Internet and telecommunications services in Kazakhstan and owns the only national private digital network.

The company serves more than 6,000 Internet users and 200 corporate telecommunications clients.