Baku Telegraph on investment competition

SCMSP told APA that besides the local investors, the foreign investors could also join the competition. The bidder offering maximum investment within the stipulations and undertaking the efficient commitments for investing will be preferred.

Baku Telegraph mainly has telex, telegraph and communication services, its authorized capital is AZN 1,790,660, number of stocks is 895,330, nominal cost of one stock is AZN2, number of the stocks on investment competition is 884,553, total nominal cost of the stocks is AZN 1,769,106.

The Company covers 0.5374 hectare and has no participation share in other enterprises or non-profit actives. The company was commissioned in 1982 and employs 32 people now. It has some AZN 224.2 thousand debtor debts.

Bidders participating in the competition have to submit their proposals on communication services meting the international standards, application of modern technologies, creation of new jobs and social protection of the employees.

They also have to submit their proposals on 5% of the total investment within 30 days after the contract to be signed and use of it. It is required to give proposals on the money to be paid to the state budget (AZN 2.4mln) and on number of state privatization checks (not under 40,000 checks) to be submitted to SCMSP.

Foreign investors have to submit the state privatization options besides state privatization checks.

The winner has to sign the sell-purchase contract of stocks of Baku Telegraph OJSC, to transfer the proposed money to the state budget within 90 days, to submit proposed number of checks (options) and to fulfill the other undertakings and stipulations.

The bidders can give their application and proposals by April 24.

Assessment of the proposals by the Competition Commission will be carried out as from April 26.