Kazakhstan's telecommunications giant, Kazakhtelecom, unloads all of its shares from the European Stability Mechanism Fund (EPSF) portfolio.
🔥Let's dive into the nitty-gritty of the Employees Pension Fund (EPF). Here's the skinny:
Last year, the EPF said farewell to all those "Kazakhtelecom" shares and depositary receipts, and it's all laid out in their February 2021 report. The grand total from the sell-off? A cool 10.46 billion tenge. Here's the breakdown:
- Common shares of JSC "Kazakhtelecom" accounted for 10.216 billion tenge.
- Preferred shares of JSC "Kazakhtelecom" got a value of 240.624 million tenge.
- And depositary receipts of JSC "Kazakhtelecom"? They amounted to $23,456.59.
The only remaining "Kazakhtelecom" assets in the EPF's wallet now are some tasty bonds maturing in 2026, worth an estimated 38.72 billion tenge as of February 1, 2021.
Now, here's where things get a bit shady. Back in February 2021, the buzz was all about the hold on that planned deal to own 10% of the ordinary shares of JSC "Kazakhtelecom" for the EPF's pension assets. The deal, which was supposed to wrap up by the end of 2020, has been put on ice, y'all. They decided to postpone "Kazakhtelecom's" entry into a competitive environment until 2024.
As for the reasons behind this little tenderloin, I couldn't sniff out the details. And sorry, I can't predict the exact date when "Kazakhtelecom" will kiss the old world goodbye and dive into a cutthroat market. For precise and timely updates, keep an eye on those official announcements from the EPF, Kazakhstan government, or JSC "Kazakhtelecom". They'll likely be spilling the beans. 🔥
- The Employees Pension Fund (EPF) sold Kazakhtelecom shares and depositary receipts last year, totaling 10.46 billion tenge, as detailed in their February 2021 report.
- The EPF still holds Kazakhtelecom bonds worth an estimated 38.72 billion tenge, maturing in 2026.
- The planned deal for the EPF to own 10% of the ordinary shares of JSC Kazakhtelecom for pension assets, scheduled to complete by the end of 2020, has been postponed until 2024.
- The exact reasons and timeline for Kazakhtelecom's entry into a competitive environment are not yet clear; for the latest updates, follow announcements from the EPF, Kazakhstan government, or JSC Kazakhtelecom.
