Despite amendments to the legislation allowing foreign capital above 49% threshold in fixed-line telecommunications upon receipt of Government's authorisation, 49% foreign equity limitation will be maintained for JSC Kazakhtelecom.
"Article 23. Information security [...]
6. It shall be prohibited: [...]
7) foreigners, stateless persons and foreign legal entities directly and (or) indirectly own, use, dispose and (or) control in total more than 49 percent of voting shares, as well as interests, ordinary shares of a legal entity operating in the field of telecommunications as a long-distance and (or) international communication operator that owns land (cable, including fiber-optic, radio-relay) communication lines without a positive decision of the Government of the Republic of Kazakhstan based on the opinion of the authorized agency in the field of communication and information, coordinated with the national security authorities; [...]" (Law On national security of the Republic of Kazakhstan (No. 527-IV of 6 January 2012), as amended by Law No. 36-VІ of 28.12.2016, Article 23 [unofficial translation])
Law On national security of the Republic of Kazakhstan (No. 527-IV of 6 January 2012), as amended by Law No. 36-VІ of 28.12.2016, Article 23
[<a href="https://adilet.zan.kz/rus/docs/Z1200000527">Law</a>],[<a href="https://telecom.kz/media/upload/49/2019/04/01/fa36c31e3d127b4f0ee62a1ce2ea8915.pdf">Other</a>]