State-owned telcos to be sold this year

17 Jan 2008

Reuters reports that Azerbaijan plans to start selling the government’s stakes in telecoms joint ventures this year. According to Kerem Gasanov, the head of the Azeri State Property Management Committee, the government was preparing to sell its 50% stake in the Azeri-US CDMA operator Catel worth an estimated AZN5 million (USD5.9 million). The sale of a 34.6% government stake in Azerbaijan’s largest mobile phone operator by subscribers, Azercell will follow, Gasanov said. This holding is expected to fetch between USD170 million and USD190 million. The government also intends to sell its 50% share in Azeri-British telco AzEurotel, and has set a starting price of AZN6 million.

Azerbaijan, Azercell, AzEuroTel, CATEL