Kyrgyzstan takes control of remaining Megacom shares

29 Jul 2014

The government of Kyrgyzstan has increased its shareholding in Alfa Telecom (Megacom) – the country’s largest mobile operator by subscribers – from 49% to 100%. In May 2010 a 49% stake in the company was transferred to the government, after it was claimed that the cellco was owned by Maxim Bakiyev, the son of ousted president Kurmanbek Bakiyev. The remaining 51% stake remained under investigation, with a Bishkek court subsequently ruling that the shares also be handed to the state. Megacom’s wireless network has coverage of 96% of the population and currently serves around 2.8 million customers.

Kyrgyzstan, MegaCom (Kyrgyzstan)