TeliaSonera Aktiebolag (publ) (OM:TLSN) entered into a conditional agreement to acquire WiMax operations from Alem Communications Holding LLP for $170 million on August 14, 2012. In a related transaction, TeliaSonera reached an in principle agreement with Visor Group to make an indirect minority investment in KazTransCom. The acquisition includes a WiMax network in six major cities, and, in particular, valuable frequencies in the 2.5/2.6 GHz band, which are compatible for use with WiMax and other mobile data transmission technologies. The transaction is subject to regulatory approvals, among other conditions. As on December 28, 2012, all the formal conditions to complete the deal had been met. UBS Limited acted as fairness opinion provider for TeliaSonera. Sam Bagot and Tihir Sarkar of Cleary, Gottlieb, Steen & Hamilton LLP acted as legal advisor for Alem Communications.

TeliaSonera Aktiebolag (publ) (OM:TLSN) completed the acquisition of WiMax operations from Alem Communications Holding LLP on January 11, 2013.