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Kyrgyzstan: Consultant selected for privatisation of Kyrgyztelecom Print E-mail
Wednesday, 05 April 2006
A State Property Commission representative, announced that the government of Kyrgyzstan has selected consultants to assist with the privatisation of the government's stake in Kyrgyztelecom.

Nagavitsina did not reveal the name of the consultancy. Kyrgyzstan is working toward the tender to privatise the government's 77.84% stake in Kyrgyztelecom, said Azamat Dikambayev, a representative from the Economic and Finance Ministry. The tender conditions and accompanying documents are being established he said.

In June 2003, Kyrgyzstan held a tender for a 51% stake in Kyrgyztelecom. Swedtel was ruled the winner with an offer of US$15.68 million. However, the government did not reach an agreement with the company, and asked the bidders to submit new financial offers. The consortium of Arex-tech and Detecon International offered the highest price of US$ 16.2 million for the stake and said it would invest US$ 150 million in Kyrgyztelecom over ten years if it won the tender. Kyrgyzstan’s parliament ultimately decided to halt the tender.

Source: The Times of Central Asia, Tatiana Nagavitsina - WDR/Intelecon Regulatory News