White & Case Advises Kazakhtelecom on Acquisition of Kcell

Press Release
1 min read

Global law firm White & Case LLP has advised Kazakhtelecom JSC, Kazakhstan's state-controlled telecommunications company, on the acquisition of a 75 percent stake in Kcell JSC, the leading mobile operator in Kazakhstan which is listed on the London Stock Exchange (LSE) and the Kazakhstan Stock Exchange (KASE).

"White & Case has advised on a transaction with real strategic significance in Kazakhstan," said Maxim Telemtayev, the Firm's executive partner in Astana who led the deal team. "The acquisition represents a milestone in Kazakhtelecom's aim to achieve network optimization and integration in the country."

Kazakhtelecom has acquired Kcell from Telia Company and Fintur Holdings B.V., following the signing of an agreement under which it acquires 24 percent of the shares in Kcell from Telia Company, and 51 percent from Fintur Holdings.

Kazakhtelecom is Kazakhstan's largest telecommunications company, controlled by the government through sovereign wealth fund Samruk-Kazyna. Kcell is the leading mobile operator in Kazakhstan, with shares listed on the LSE and KASE since 2012. Telia Company is the main mobile operator in Sweden and Finland. Fintur Holdings B.V. is jointly owned by Telia Company and Turkcell.

The White & Case team in Astana which advised on the transaction was led by corporate partner Maxim Telemtayev with support from associates Tatyana Lee, Assel Meiramgaliyeva, and Alikhan Baizakov. The White & Case team acted as co-counsel to Kazakhtelecom alongside Cleary Gottlieb Steen & Hamilton.

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