Kcell shareholder TeliaSonera to withdraw from Region Eurasia
Almaty, 17 September 2015 - JSC Kcell ("Kcell" or the "Company") (LSE, KASE: KCEL), the leading operator in the telecommunications market of Kazakhstan in terms of revenues and subscriber base, has been notified by its majority shareholder TeliaSonera, which holds 61.9% of shares in Kcell, that it has initiated a process to reduce its presence and over time to fully withdraw from Region Eurasia.
TeliaSonera's Region Eurasia incorporates operations in Nepal, Kazakhstan, Uzbekistan, Azerbaijan, Georgia, Moldova and Tajikistan. TeliaSonera has indicated that it is conducting this process market by market, and will eventually leave the entire region.
Kcell will further update the market in due course, as further information becomes available.
Art Ots, CEO of Kcell, said:
"Since Kcell's listing at the end of 2012, we have benefited greatly from the expertise and guidance of our majority shareholder TeliaSonera. Having operated now for three years as a listed company, we have established a clear business strategy as well as robust internal structures and protocols to ensure best practice corporate governance. We look forward to continuing to execute our customer centric strategy and services and technology excellence, in order to maintain our market leadership and drive growth and shareholder value."