Swedish telecoms giant TeliaSonera has confirmed that it has met the formal conditions to acquire Alem Communications’ WiMAX business, from Midas Telecom. In a related development, the terms have also been met for TeliaSonera’s indirect minority investment in KazTransCom, through the purchase of shares from Alatau. TeliaSonera intends to transfer both businesses to K’cell, its Kazakh mobile subsidiary.
The total value of the transactions is USD205 million, of which the acquisition of Alem represents USD170 million, with the minority stake and option rights related to KazTransCom representing the remaining USD35 million. TeliaSonera’s intention to carry out the dual transaction was announced on 14 August 2012.