Power International Holding Completes Acquisition of Tele2/Altel in Kazakhstan
On January 14, 2025, Power International Holding (PIH) successfully completed the acquisition of 100% of Mobile Telecom-Service LLP, which operates under the Tele2 and Altel brands. This marks the completion of an agreement originally signed in Doha in 2024 between PIH, Kazakhtelecom JSC, and Samruk-Kazyna JSC.
This strategic acquisition reinforces PIH’s commitment to investing in Kazakhstan’s digital infrastructure, with a strong focus on expanding network coverage, improving mobile and internet services, and fostering technological innovation.
Significance of the Acquisition for Kazakhstan
According to Moutaz Al Khayyat, Chairman of Power International Holding, this deal highlights PIH’s long-term vision for the region:
This strategic acquisition reinforces PIH’s commitment to investing in Kazakhstan’s digital infrastructure, with a strong focus on expanding network coverage, improving mobile and internet services, and fostering technological innovation.
Significance of the Acquisition for Kazakhstan
According to Moutaz Al Khayyat, Chairman of Power International Holding, this deal highlights PIH’s long-term vision for the region:
“Kazakhstan plays a key role in our regional investment strategy. Developing infrastructure and introducing innovative technologies will not only enhance connectivity but also create new jobs, driving the country’s economic and social growth. With its strategic location, rich resources, and commitment to fostering a favorable business climate, Kazakhstan is an attractive market for PIH.”
Ramez Al Khayyat, President of Power International Holding, emphasized why the telecommunications sector was chosen as a priority investment area: “The acquisition of Tele2/Altel allows us to introduce cutting-edge technology, improve digital infrastructure, and contribute to the growth of Kazakhstan’s technology sector. We aim to build an advanced digital ecosystem that ensures fast, reliable, and affordable connectivity for all.”
The Future of Tele2/Altel Under PIH
Mikhail Gerchuk, CEO of Telecom Group, Power International Holding, highlighted the importance of this acquisition for Kazakhstan’s telecommunications industry: “We see tremendous potential for technological advancements, network expansion, and enhanced customer experiences. With PIH’s investment, Tele2/Altel will become a leader in digital innovation, delivering high-quality connectivity and pioneering new technological solutions.”
Dr. Ismail Makdessi, Chief Legal Officer of PIH, added: “The successful completion of this transaction is a milestone for Kazakhstan’s telecom sector. We are confident that our expertise and investment will elevate Tele2/Altel to new heights, creating additional value for customers and partners.”
Strategic Growth and Future Opportunities
Alexander Babichev, Chairman of Mobile Telecom-Service LLP, shared his vision for the future: “Having a strong investor like PIH is a game-changer for Kazakhstan’s telecom sector. This partnership will accelerate our growth, expand 5G coverage, and bring cutting-edge digital solutions to the market.”
Power International Holding is actively investing in global technology and digital projects, focusing on AI-driven applications, cloud analytics, digital payments, and process automation. The integration of Tele2/Altel into PIH will serve as a catalyst for further development in Kazakhstan’s telecom industry, solidifying the country’s position as a regional digital leader.
Ramez Al Khayyat, President of Power International Holding, emphasized why the telecommunications sector was chosen as a priority investment area: “The acquisition of Tele2/Altel allows us to introduce cutting-edge technology, improve digital infrastructure, and contribute to the growth of Kazakhstan’s technology sector. We aim to build an advanced digital ecosystem that ensures fast, reliable, and affordable connectivity for all.”
The Future of Tele2/Altel Under PIH
Mikhail Gerchuk, CEO of Telecom Group, Power International Holding, highlighted the importance of this acquisition for Kazakhstan’s telecommunications industry: “We see tremendous potential for technological advancements, network expansion, and enhanced customer experiences. With PIH’s investment, Tele2/Altel will become a leader in digital innovation, delivering high-quality connectivity and pioneering new technological solutions.”
Dr. Ismail Makdessi, Chief Legal Officer of PIH, added: “The successful completion of this transaction is a milestone for Kazakhstan’s telecom sector. We are confident that our expertise and investment will elevate Tele2/Altel to new heights, creating additional value for customers and partners.”
Strategic Growth and Future Opportunities
Alexander Babichev, Chairman of Mobile Telecom-Service LLP, shared his vision for the future: “Having a strong investor like PIH is a game-changer for Kazakhstan’s telecom sector. This partnership will accelerate our growth, expand 5G coverage, and bring cutting-edge digital solutions to the market.”
Power International Holding is actively investing in global technology and digital projects, focusing on AI-driven applications, cloud analytics, digital payments, and process automation. The integration of Tele2/Altel into PIH will serve as a catalyst for further development in Kazakhstan’s telecom industry, solidifying the country’s position as a regional digital leader.