Bankrupt Aktel to have assets auctioned on 14 July

7 Jul 2015

An auction for the assets of now-defunct Kyrgyzstan-based CDMA operator Aktel, which offered services under the Fonex banner, is scheduled to take place on 14 July 2015, according to local news site Tazabek. With two previous auction attempts (15 June and 26 June) having failed, the initial bid price has been reduced by around 20% from around KGS203.661 million (USD3.276 million) to KGS162.889 million.

Tazabek asserts that the assets of the former Aktel business have been transferred to a new entity, named Zheti Mobile or Jeti Mobile, with Aktel retaining all debts. Further, the site notes that the new company is owned by Zhunushaliev Kubanichbek Osmonovich, who reportedly registered the new business on 23 January 2015.

According to TeleGeography’s GlobalComms Database, Aktel secured a mobile concession in 2002 and launched services under the Fonex brand in November 2003. The company was declared bankrupt at the end of 2013 after FinanceCreditBank launched a lawsuit against the company, saying it was owed KGS8 million by the operator. Subsequently, in late 2014 Aktel had its equipment disconnected from the telecoms exchange reportedly serving all of its remaining base stations, and its service agreement with the country’s national operator, Kyrgyztelecom, was terminated.

Kyrgyzstan, Aktel (Fonex)