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Kazakh Companies Interested to Buy Geocell

Kazakh Telecom, the state company of Kazakhstan, and VISOR Group investment company are expected to become new owners of Geocell.

Based on its own sources, the Swedish media company writes that the Kazakh party is interested in purchasing a 100% stake in Eurasia assets of TeliaSonera, where Georgian and Moldavian companies are also presumed.

Kazakh Telecom and VISOR Group are tightly related to the President of Kazakhstan and his family. According to Swedish Svenska Dagbladet, elder grandchildren of Nursultan Nazarbayev is considered as a coming owner of assets, as well as active politicians from the circles of the President’s Office.

Teliasonera does not make comments on probability of sales of Geocell. In response to the question, whether tender was held on Geocell sales on October 24, the company representatives said that they do not make comments on speculations and gossips and they will spread information themselves if necessary.

TELIA took a decision to withdraw from the Eurasia market referring to corruption schemes in the countries of the region.

The company operates in Kazakhstan, Azerbaijan, Uzbekistan, Tajikistan, Georgia, Moldova and Nepal. The company has talked about the market withdrawal details many times.

“Political situation on the mentioned markets may become very unforeseeable and TELIA may have to leave the country or specific operator in this or that country. Unexpected and unforeseeable changes may take place in tax or civil legislation. Additional risks are related to expected restrictions on property ownership for foreigners or other formal or unofficial available measures in relation to companies owned by foreign citizens.
These markets are full of uncertainties and difficulties and these factors may affect sales”, the company statement reads.