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 Friday, December 18, 2009

­Tele2 is to buy a majority share of Kazakhstan based mobile operator Neo (the trading name for Mobile Telecom-Service). The company is paying around SEK 550 million (US$77 million) for 51 percent of the shares and commit to a capital injection of around SEK 360 million (US$50.6 million) once the transaction has been finalized. The seller is Kazakhstan's dominant landline operator, KazakhTelecom who also owns a 49% stake in GSM Kazakhstan (Kcell), which is a far larger mobile network operator, in terms of subscriber base.

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Neo is the smallest of the country's three GSM networks, and estimates from the Mobile World put its subscriber base at just under 1.5 million at the end of Q3 '09. This represented a market share of 9.2%. The two other operators are Kazakhstan-Rumeli Telecom, controlled by Russia's Vimpelcom and GSM Kazakhstan (Kcell), which is controlled by TeliaSonera's Fintur Holding.

Source: Cellular News