PIH Completes Acquisition of Kazakhstan’s MTS

Deal News | Jan 17, 2025 | Zawya

PIH Completes Acquisition of Kazakhstan’s MTS

Power International Holding (PIH), a leading conglomerate based in Qatar, has finalized its acquisition of Mobile Telecom-Service (MTS), securing a 100% participatory interest in the company. This transaction marks a significant milestone in the telecommunications sector of Kazakhstan. MTS, which stands out with its brands Altel and Tele2, is recognized as a leading provider of ultrafast 5G services in Kazakhstan. The company, which employs approximately 2,000 staff and operates over 140 retail outlets, plays a crucial role in the country's telecom landscape. The acquisition follows initial agreements made in February 2024 and a definitive agreement signed in June 2024. The move by PIH is poised to capitalize on Kazakhstan's growing demand for improved connectivity and digital services, driven by a population of 20.2 million with high mobile and internet penetration rates.

Sectors

  • Telecommunications
  • Private Equity

Geography

  • Kazakhstan – The target company, MTS, operates primarily in Kazakhstan, providing telecom services and contributing to the digital landscape.
  • Qatar – Power International Holding (PIH), the acquiring company, is based in Qatar, highlighting the international nature of the transaction.

Industry

  • Telecommunications – The acquisition involves MTS, a major telecommunications company in Kazakhstan, emphasizing the growth and development of 5G connectivity and digital services.
  • Private Equity – Power International Holding (PIH) is a conglomerate engaging in an acquisition, a common activity within the private equity sector.

Financials

    Participants

    NameRoleTypeDescription
    Power International Holding (PIH)Bidding CompanyCompaniesA Qatar-based conglomerate that has acquired MTS.
    Mobile Telecom-Service (MTS)Target CompanyCompaniesKazakhstan's leading provider of 5G connectivity and a major player in the telecom sector.
    KazakhtelecomSelling CompanyCompaniesThe company from which PIH acquired MTS.
    Samruk-KazynaParticipant in Initial AgreementCompaniesA sovereign wealth fund involved in the agreement process.