Freedom Telecom acquired 100% of the shares of Astel Group Ltd.

Freedom Telecom Holding Ltd, controlled by businessman Timur Turlov, acquired 100% of the shares of the private company Astel Group Ltd.

For the new company in its portfolio, Freedom Telecom paid 11.46 billion tenge. The deal was completed on April 30, 2025.

Astel Group Ltd. was registered in September 2023 in the MFCA as a holding company; it owns JSC Astel, a satellite communications operator that has been operating in Kazakhstan since 1993. JSC Astel was founded by businessman and investor Murat Abdrakhmanov.

The buyer is retaining the Astel brand, while the infrastructure and networks of both companies—Astel and Freedom Telecom—will work in synergy to improve efficiency. A phased transformation is planned for the future, focusing on the development of new technologies and the integration of business processes. Astel has 19 branches and is present in all regional centers of Kazakhstan. The company's client base includes approximately 4,000 subscriber terminals.

The choice of Astel as a purchase by Freedom Telecom was explained by the company's competence in satellite communications, system integration, and digital solutions. Through the deal, Freedom Telecom plans to expand its technological capabilities, including the development of innovative areas such as low-orbit platforms. Low-orbit satellites are located in low Earth orbit at an altitude of 180 km to 2000 km above sea level. They are used, among other things, for satellite communications and navigation, as well as for Earth observation.

Freedom Telecom is increasing its presence in the telecom sector through M&A deals. Previously, the company had already acquired several players in the Kazakh telecom market: in January 2024, it bought Shymkent-based DITel for $1.1 million; in September 2024, it acquired the telecom network provider and builder SilkNetCom for $23.88 million; and in October 2024, it purchased the Astana-based LLP "Elitkom," which provides telecom services in the B2C and B2B segments, for $3 million.

Timur Turlov has had interests in the telecom market since July 2023. He intends to create an "absolutely new mobile operator of the 5G standard" in Kazakhstan within a few years. In December 2023, Freedom Holding sought to acquire 5G frequencies at the first auction in Kazakhstan but lost to the Tele2/Altel and "Kcell" consortium.

Turlov plans to raise funds in Hong Kong for two major projects involving Freedom Telecom—the construction of a data center no lower than Tier-III level for transit storage and the creation of a data transmission superhighway. Approximately 107 billion tenge will be spent on these projects over three years.

Source: forbes.kz