29 Feb 2016 07:30
Kcell JSC
Statement regarding Turkcell announcement with regard to TeliaSonera's holdings in Kcell
Almaty, 29 February 2016 - Kcell Joint Stock Company ("Kcell" or the "Company") (LSE, KASE: KCEL), notes the announcement made by Turkcell on the Istanbul Stock Exchange on Friday 26 February.
Kcell provides the full text of the announcement below:
"Turkcell Board of Directors decided to submit a binding offer for the remaining 58.55% stake of Sonera Holding B.V. (TeliaSonera) in Fintur Holdings B.V.* (Fintur) and TeliaSonera's 24% direct stake in Kcell JSC operating in Kazakhstan. Fintur is currently 58.55% owned by TeliaSonera and 41.45% by Turkcell.
*Fintur companies operate in Kazakhstan, Azerbaijan, Moldova and Georgia."
Enquiries:
Kcell | |
Investor Relations | |
Irina Shol | Tel: +7 727 2582755 ext. 1002 Investor_relations@kcell.kz |
Media Natalya Eskova |
Теl: +7 727 2582755 Pressa@kcell.kz
|
International Media | |
Instinctif Partners | Tel: +44 207 457 2020 |
Kay Larsen / Galyna Kulachek / Adrian Duffield |
Company Overview
Kcell provides mobile voice telecommunications services, messaging services, value-added services such as multimedia and mobile content services, as well as data transmission services including internet access. It has two brands: the Kcell brand, which is targeted primarily at corporate subscribers (including government subscribers), and the Activ brand, which is targeted primarily at mass market subscribers. The Company offers its services through its extensive, high quality network which covers substantially all of the populated territory of Kazakhstan.
In December 2012, Kcell successfully completed its offering of GDR's on the London Stock Exchange and common shares on KASE. The price was set at USD 10.50 per GDR and KZT 1,578.68 per share with each GDR representing one share. The offering consisted of a sale by TeliaSonera of 50 million shares, which represent 25 percent of Kcell's share capital. TeliaSonera holds directly and indirectly 61.9 percent of the Company's common shares.
Kcell plans to benefit from the significant growth potential for mobile data services in Kazakhstan. The Company intends to continue to invest in the deployment of its 3G network to expand coverage and to introduce high quality LTE services in due course. Kcell aims to maintain its market leadership in terms of revenue and the number of subscribers by offering its products and services at competitive prices, expanding its offering of products and services, maintaining the high quality of its network and enhancing its brand value.