European law firm, Fieldfisher, has successfully advised Kazakhstan's leading telecommunications company on a landmark telecoms transaction.
The M&A team in London has successfully advised JSC "Kazakhtelecom" on the substantial sale of its 100% stake in Mobile Telecom-Service LLP (MTS) to Qatari-based conglomerate Power International Holding (PIH).
Kazakhtelecom is the largest telecommunications company in Kazakhstan, providing broadband internet, interactive television, mobile communication, local and long-distance telephone services, and cloud services.
MTS is known for its prominent brands Altel and Tele2 and is the country's leading provider of ultrafast 5G connectivity. Established in 2004, MTS employs around 2,000 staff and operates over 140 retail stores. The company offers a comprehensive range of telecommunications and digital services, making it a cornerstone of Kazakhstan's telecommunications landscape.
The deal was financed through a syndicate of banks led by Citi and QNB.
This transaction, being part of the wider state privatisation initiative, is an important stage in the strategic evolution of MTS and opens opportunities for the company to continue to grow and create additional value.
The Fieldfisher M&A team provided comprehensive English law support to Kazakhtelecom throughout the transaction, including attending critical commercial negotiations in person in Doha and Almaty. Further support to Kazakhtelecom on the aspects of Kazakh law was provided by Fieldfisher Kazakh counsel. PIH were represented by Morgan Lewis. Banks were advised by Dentons.
The Fieldfisher team was led by Partners Nodir Sidikov and Natalia Schuster and Associate Kuanysh Sarsenbayev, with support from Senior Associate Galina Rivkina, Associate Victoria Lebed, Solicitors Alisher Satimov and Julia Safitova and Paralegal Islam Aubakirov.
Over the past year, the M&A team has advised a number of clients from Kazakhstan, including:
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