Azercell head discusses reduction in TeliaSonera’s presence in Eurasia

ICT Materials 12 November 2015 19:18 (UTC +04:00)

Baku, Azerbaijan, Nov. 12

By Huseyn Valiyev - Trend:

Turkish mobile communications operator Turkcell invited consultants to assess the shares of TeliaSonera in Fintur Holdings B.V., the acting president of Azercell Telecom, Vahid Mursaliyev, told Trend on Nov. 12.

Fintur Holdings B.V., of which TeliaSonera owns 58.55 percent, holds shares in Azercell Telecom.

Currently, Turkey's Azertel Telekomunikasyon Yatirim Dis Ticaret A.S. - part of Fintur Holdings B.V. - is the 100-percent shareholder of Azercell.

In September, TeliaSonera said that as part of a new strategy, it will focus on Europe, particularly Sweden, and will reduce its presence in Eurasia, including Nepal, Kazakhstan, Uzbekistan, Azerbaijan, Georgia, Moldova, and Tajikistan.

TeliaSonera plans to completely leave the Eurasian region over time.

As Mursaliyev pointed out, Turkcell has the right of first refusal, as it is the second founder of Fintur Holdings B.V.

"Accordingly, TeliaSonera must first offer its stake to Turkcell and can then offer it to other investors [if the Turkish operator turns down the offer]," Mursaliyev stated, adding that this issue was discussed at the level of the founders and that the details of negotiations haven't yet been disclosed.

The acting president of Azercell stressed that once the issue is resolved, negotiations with all the operators, including Azercell Telecom, which is a party of TeliaSonera, will be held separately.

TeliaSonera earlier said that the process of reducing its presence in Eurasia has already begun, but at this stage, it is impossible to estimate how long it will take.

The company also noted that the process of forming the company's new strategy is well underway.