Power International Holding Acquires MTS: A Strategic Move in Telecom
Deal News | Jan 21, 2025 | Zawya
Power International Holding (PIH), a diversified Qatari-based conglomerate, has completed the acquisition of Mobile Telecom-Service LLP (MTS) from Kazakhtelecom JSC. The acquisition includes full control over MTS, known for its leading telecom service brands Altel and Tele2, and marks a significant expansion move into Kazakhstan's telecommunications sector. PIH aims to leverage this acquisition to advance Kazakhstan’s digital transformation and enhance its telecom infrastructure, particularly in 5G technology. The transaction, closed on June 4, 2024, was facilitated by major financial institutions including Citi and QNB Group, underscoring the market's confidence in PIH's strategic expansion into emerging markets. With this acquisition, PIH plans to diversify its investment portfolio and strengthen its global presence in the tech sector.
Sectors
- Telecommunications
Geography
- Qatar – Power International Holding is headquartered in Qatar and the acquisition reflects its global expansion strategy.
- Kazakhstan – The acquisition target, MTS, is based in Kazakhstan highlighting the region of the business expansion.
Industry
- Telecommunications – The acquisition of MTS by Power International Holding falls under the telecommunications industry as it involves telecom service providers and 5G technology.
Financials
- – No specific financial details such as deal price or funding amount were provided in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Power International Holding (PIH) | Acquirer | Company | Qatari-based conglomerate acquiring MTS to expand in the telecommunications sector. |
| Mobile Telecom-Service LLP (MTS) | Target Company | Company | Kazakhstan's leading telecom service provider being acquired by PIH. |
| Kazakhtelecom JSC | Vendor | Company | Company selling its interest in MTS to PIH. |
| QNB Group | Financial Advisor | Company | Acted as a leader in the financial arrangement for the acquisition. |
| Citi | Financial Advisor | Company | Played a key role in financing the acquisition. |