Azerbaijan Government to Sell Stakes in Local Telecoms Firms
Azerbaijan's governments intends to start selling stakes in the state-owned telecoms ventures, Kerem Gasanov, the head of the Azeri State Property Management Committee told a news conference.
The Reuters news agency reported that the sales would include its 50% stake in local CDMA operator, Catel - which is valued at around US$6 million. The government also intends to sell roughly 35% of Azercell Telecom for between US$170-$190 million.
Azercell Telecom is 35.7% owned by the Azerbaijan government and 64.3% owned by Fintur Holdings - which is in turn a joint venture between TeliaSonera (58%) and Turkcell (42%).
Just last week, TeliaSonera's President & CEO, Lars Nyberg was in Azerbaijan to visit the company and said at a press conference that "We are committed to Azerbaijan and will continue delivering world class service"
"Azerbaijan was the first CIS country after Russia we started investing in 2003. Now, Azercell is number 1 mobile operator and to become a company for Azerbaijan to take pride in. We intend to stay so", Nyberg said.
Data from the Mobile World
reports that Azercell Telecom is the country's largest operator - having some
2.8 million subscribers at the end of last September and a market share of
nearly 64%. The country itself has a population penetration level of 55%.
Posted to the site on 17th January 2008