Privatization agreement of Azercell in Azerbaijan has been signed
- 2008-02-12 13:05 UTC
The agreement for the privatization process of the Republic of Azerbaijan’s 35.7 percent ownership in Azercell Telekom B.M. (Azercell), the leading mobile operator in Azerbaijan, has been signed. The deal is pending certain closing procedures.
Azertel A.S., the parent company of Azercell and a majority-controlled subsidiary of Fintur Holdings B.V. (Fintur), acquired the entire stake of the Republic of Azerbaijan. Azertel will thereby increase its ownership in Azercell to 100 percent. Fintur’s effective ownership in Azercell remains at 51 percent. TeliaSonera’s direct and indirect ownership in Fintur is 74 percent.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 14:00 (CET) on February 12, 2008.
For further information journalists can contact:
TeliaSonera’s Press Office +46-(0)8-713 58 30
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.