Klebanov rationalises shareholding in readiness for Kazakhtelecom IPO

Kazakhtelecom IPO: In a move  that should  pave the way for the flotation of Kazakhstan’s largest telecommunications company, Kazakh businessman Alexander Klebanov has consolidated his 24.4% stake in Kazakhtelecom into his UK-based Sobrio holding after acquiring the shares owned by Dutch affiliates Bodam  and Deran. The deal was made “in order to improve the transparency and ownership structure of Kazakhtelecom in preparation for a possible IPO,” according to a statement issued by the Kazakhstan Stock Exchange. 
Kazakhtelecom has on overall market shore of around 34% and last November entered into a joint venture with Sweden’s Tele2 which now commands approximately 22% of the country’s mobile market.
According to Forbes, Klebanov is Kazakhstan’s 28th richest man and owns 33% of the Central-Asian Power-Energy Company (CAPEC), a similar percentage  of the CAPEC Investment Group, several media organisation including the STV television channel and the Tengrinews news portal, and  part of KazAir Jet.