#Qatar #Doha #Power International #Mobile Telecom #Kazakhtelecom

Power International Holding Completes Major Acquisition

In a significant move for the telecommunications landscape in Kazakhstan, Power International Holding (PIH), a renowned multinational conglomerate based in Qatar, has successfully acquired 100% of Mobile Telecom-Service LLP (MTS) from Kazakhtelecom JSC. This landmark transaction, finalized in January 2025, represents a pivotal step in PIH’s strategic expansion into the telecommunications sector.

Details of the Acquisition

The acquisition follows a series of important agreements, beginning with a preliminary agreement in February 2024, followed by a definitive sale and purchase agreement signed in June 2024. MTS, recognized for its flagship brands such as Altel and Tele2, is a leading provider of high-speed 5G connectivity in Kazakhstan. Founded in 2004, MTS employs approximately 2,000 individuals and operates over 140 retail locations, offering a wide array of telecommunications and digital services. This acquisition aims to fortify the telecommunications infrastructure within Kazakhstan, ensuring that the company remains at the forefront of the rapidly evolving digital frontier.

Financing the Transaction

The financing for this acquisition was orchestrated by Citi and QNB Group, serving as the coordinators and bookrunners for the transaction. The financial arrangements included contributions from several esteemed institutions, positioning this acquisition as a testament to the confidence that international financial entities have in PIH's vision for growth.

Ramez AlKhayyat, the President of Power International Holding, emphasized the strategic significance of this acquisition. He stated, "Our telecommunications group is essential to PIH's growth trajectory. Through this purchase, we aim to foster development in telecommunications and technology in Kazakhstan, providing innovative solutions that will enhance the digital landscape of the country."

Enhancing Telecommunications in Kazakhstan

With this acquisition, PIH is set to elevate its offerings in Kazakhstan's communications sector, ensuring that advanced telecommunications infrastructure is developed to meet the current demands and expectations of users. The synergy between the established service providers that MTS brings and PIH’s expansive vision promises to enhance connectivity options for the region’s businesses and consumers alike.

QNB Group’s Chief Executive Officer, Abdulla Mubarak Al-Khalifa, remarked on the significance of this financial support, stating, "This strategic financing not only solidifies our commitment to vital investments in telecommunications but also enhances economic growth in Kazakhstan, aligning with our objective to empower businesses through improved connectivity."

Looking Ahead

According to Eyad Abdulrahim, PIH’s Chief Finance and Investment Officer, navigating the complex regulatory and financial landscapes involved in this acquisition required extensive collaboration with global partners. He noted, "Securing funding through an international consortium of leading banks reflects the robust confidence in our acquisition's potential. We intend to utilize this investment to bolster infrastructure, incorporating next-generation technology to enhance service quality."

This acquisition represents a vital milestone in Power International Holding's strategy to diversify its investment portfolio while enhancing its global reach and influence in the telecommunications domain. As the company transitions into Kazakhstan's telecommunications market, it aims to uphold its commitment to delivering high-quality service and technology solutions that align with contemporary consumer needs and expectations.

Power International Holding continues to demonstrate how strategic acquisitions can successfully drive the vision of enhancing connectivity and propelling economic growth in emerging markets like Kazakhstan. As the company embarks on this new chapter, it remains dedicated to fostering innovation and sustainability in its operations, ensuring a brighter digital future for the regions where it operates.

For more information about Power International Holding and its initiatives, visit www.powerholding-intl.com.