DOHA, QATAR -- Power International Holding (PIH), a globally recognized Qatari-based conglomerate, has officially completed the acquisition of a 100% participatory interest in Mobile Telecom-Service LLP (MTS) from Kazakhtelecom JSC.

This acquisition follows the initial agreement signed on February 14, 2024, in Doha between PIH, Kazakhtelecom, and the sovereign wealth fund Samruk-Kazyna as well as the signing of the definitive sale and purchase agreement on June 4, 2024.

MTS, known for its prominent brands Altel and Tele2, is the country‘s leading provider of ultrafast 5G connectivity. Established in 2004, MTS employs around 2,000 staff and operates over 140 retail stores. The company offers a comprehensive range of telecommunications and digital services, making it a cornerstone of Kazakhstan’s telecommunications landscape.

With Kazakhstan’s population of 20.2 million and high penetration rates of mobile and internet usage, the telecom industry is experiencing robust growth, driven by increasing consumer demand for enhanced connectivity and digital services.