STOCKHOLM -(Dow Jones)- Swedish telecommunications company TeliaSonera AB (TLSN.SK) said Thursday it will buy a further 49% of the Kazakh operator GSM Kazakhstan LLP for $1.52 billion. TeliaSonera has also agreed to sell 25% of the shares minus one share in GSM Kazakhstan, operating under the brand Kcell, in an initial public offering. The IPO is expected to be completed during 2012, TeliaSonera said in a statement. Fintur Holdings, which is jointly owned by TeliaSonera and Turkcell (TCELL.IS), currently has a 51% stake in GSM Kazakhstan LLP, and the rest of the company is held by Kazakhtelecom. After TeliaSonera's investment and the IPO, the Swedish company's ownership stake in Kcell will amount to 61.74%. "This agreement is another step in the execution of our strategy of increasing ownership in core holdings," said Tero Kivisaari, president of TeliaSonera Eurasia. The transaction is subject to regulatory approvals, and it is expected to be finalized during the first quarter of 2012. -By Niclas Rolander, Dow Jones Newswires; +46-8-5451-3102; niclas.rolander@dowjones.com
