Azercell Mobile User Base Up 34.6% on Year As of Jan 1

BAKU, Feb 8 (Prime-Tass) -- The subscriber base of Azeri mobile operator Azercell Telecom rose 34.6% on the year to 1.75 million users as of January 1, the company said in a press release Wednesday.

The company's investments in 2005 rose to U.S. $108.5 million from $58.1 million in 2004, Azercell said.

Azercell said that it launched 248 base stations in 2005, increasing its total to 750. The company's network covers 74.5% of the country. Azercell controls 80% of the market, the company said.

The company said that the government may sell its stake in the company this year for $180 million to $190 million. The stake is likely to be first offered to Fintur Holdings.

Azercell is 35.7%-owned by the Azeri IT and Communications Ministry, while the rest is indirectly owned by Fintur Holdings, a joint venture between Turkish mobile operator Turkcell and Swedish telecommunications company TeliaSonera.

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Posted to the site on 8th February 2006