/KASE, February 2, 12/ - Kazakhtelecom (Astana), securities of which are officially listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press release February 2, 2012:

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"Kazakhtelecom" JSC announces the successful completion of the deal on sale of 49% participatory interest in "GSM Kazakhstan ОАО лKazakhtelecom╗ LLP.

Pursuant to the concluded with european telecommunications holding TeliaSonera A.B. deal on sale of Kazakhtelecom JSC's 49% participatory interest in "GSM Kazakhstan ОАО лKazakhtelecom╗ (brands Kcell, Activ, Vegaline), parties have fulfilled conditions precedent to the completion and executed the completion of the deal.

Kazakhtelecom JSC has sold its 49 percent participatory interest for the consideration of 1,519 mln USD. Also, as per terms of the deal, Kazakhtelecom has the right to receive additional consideration in case of successful IPO of "GSM Kazakhstan ОАО лKazakhtelecom╗ LLP ( if IPO price will exceed sale price).

Chairman of the Management Board of Kazakhtelecom JSC Kuanyshbek Esekeev noted: лWe are satisfied with the results and terms of the deal. As per results of the conclusion of the deal shareholders value of our company has already significantly increased. In future we also hope for the positive investor reaction, based on the results of our strategic investment projects, including on construction of LTE network (4G)╗.

Kazaktelecom Pr Service

ends

[2012-02-02]