US Company Privatizes Azerbaijan’s State Share in JV
Azerbaijan, Baku, 16 January /corr. Trend I.Khalilova / The American Omni Communications privatized the Azerbaijan's-50% State share in the US-Azerbaijani joint venture Catel (Caspian American Telecommunications) -for AZN 5mln, reported the Head of the State Privatization Committee, Kerem Hasanov.
Catel JV was established in 1997, as a result of the establishment of a consortium between Azerbaijan's Ministry of Communications & Information Technologies and OMSL (Omni-Metromedia-Caspian Ltd.). It is the first operator in the communication market, which received license to render the wireless communication services in Azerbaijan.
Hasanov said that according to sale practice of the State share in the JV, first of all the deal is being suggested to the investors represented in the venture.