Ali Abbasov, Azerbaijan Telecommunication and IT Minister, said during the today meeting of the Caspian Integration and Business Club that the necessity of the fusion of PA Azetelekom and Baktelekom is dictated by the international experience.
According to him, the restructuring goes prior to the privatization of enterprises.
Many countries restructure state-controlled enterprises to privatize them. Taking into consideration the international experience, it was considered expedient to conduct restructuring, and then privatization of the enterprises said the Minister.
This proposal was put forward to the Azerbaijan Government by the consultant for preparation for privatization in the telecommunication sphere, Consortium CA IB.
The Telecommunication Minister does not rule out that the new united structure may keep the previous name вЂ" Aztelekom.
The consultant will prepare proposals for the privatization of Aztelekom. It will become the next step. The consultant is currently occupied directly with Aztelekom to solve local issues, said the Minister.
During the process of privatization, a small package of shares is expected to be kept by the state, however it will depend on recommendations to be made by CA IB. The consultation services will be implemented in two steps. The first stage envisages the inventory of the state stake in the authorized capital of the enterprises, joint-stock enterprises, as well as appraising it in accordance with the international standards with the object to reveal inexpediency of privatization of any property, expelling this property from the enterprise, preparation for a recommendation on using this property.
The second stage includes involving investors to the process of privatization, rendering organizational services on sale of the corresponding enterprise depending on a method of privatization, including preparation of an information memorandum, compilation of competitive documents, etc, presenting particular proposals and conditions connected with ensuring the efficient activity of the enterprises.
Being the only shareholder, the Azerbaijan Telecommunication and IT Ministry, on behalf of the Azerbaijan Government, launched uniting the Production Associations of Azetelekom and Baku Telefon Rabitasi (Bakutelekom) to a single network, Trend reports.
Ali Abbasov, Azerbaijan Telecommunication and IT Minister, informed Trend that the state telecommunication agency should operate as one enterprise like it does in many countries. The analogous experience is used in Russia, Ukraine, and Kazakhstan.