Azerbaijan may earn $190 million from privatization of the largest mobile operator
Revaluation of the state-owned stake in Azercell Telecom JV has been complete and a decision was made to move to the stage of privatization, Karam Hasanov, Chairman of the Azerbaijan State Committee for Public Property Management, said.
“The work for privatization of the state-owned stake in Azercell is nearing its completion. I think Azerbaijan may earn $170 million to $190 million from the privatization", he noted. Ernst & Young is a consulting firm for privatization of Azercell Telecom JV.
Azercell Telecom JV is owned by Azerbaijan’s Ministry of Communications and Information Technologies (35.7%) and Fintur Holdings B.V. (64.3%). Owners of the Fintur Holdings B.V. are TeliaSonera-58% and Turkcell-42%.
Azercell’s customer database is 2.8 million out of 4.1 million mobile phone users in the country.
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