Power International Holding (PIH), a Qatar-based conglomerate, has successfully acquired a 100% stake in Mobile Telecom-Service (MTS) from Kazakhtelecom. The acquisition follows an initial agreement signed on February 14, 2024, in Doha between PIH, Kazakhtelecom, and the sovereign wealth fund Samruk-Kazyna, alongside the signing of the definitive sale and purchase agreement on June 4, 2024.
MTS, recognized for its leading brands Altel and Tele2, stands as Kazakhstan’s top provider of ultrafast 5G connectivity. Founded in 2004, the company employs around 2,000 individuals and operates more than 140 retail outlets. MTS offers a wide range of telecommunications and digital services, playing a crucial role in shaping Kazakhstan’s telecom industry.
The telecom sector in Kazakhstan, with a population of 20.2 million and high mobile and internet penetration, is witnessing significant growth, driven by rising consumer demand for improved connectivity and digital services, according to a PIH statement.
