Samruk-Kazyna increases its stake in Kazakhtelecom to nearly 80%

ASTANA. Sept 14 (Interfax) - Kazakhstan's Sovereign Wealth Fund Samruk-Kazyna has increased its stake in Kazakhtelecom from 51% to 79.24%, Samruk-Kazyna said in a filing with the Kazakhstan Stock Exchange (KASE).

Samruk-Kazyna now owns 8,655,561 voting shares of Kazakhtelecom.

First Heartland Jusan Bank said on Wednesday that it had acquired 9% of the operator's shares.

"The shares were purchased at an open auction on the KASE at the market price effective at the time of purchase," the bank said.

Kazakhtelecom holds a prominent position in the national telecommunications industry. The company owns 51% of the shares of mobile operator Kcell, as well as 100% of Mobile Telecom Service LLP.

Samruk-Kazyna was organized in 2008 through a merger of Kazyna Sustainable Development Fund and Samruk Holding for State Assets Management. Samruk-Kazyna owns and operates strategic assets of Kazakhstan, including Air Astana, Kazakhtelecom, Kazatomprom, KazMunayGas, KazPost, Kazakhstan Temir Zholy, KEGOC and others.