Has anyone made a hand of the sale of Azercell?

It should be reminded that almost a 36% share in the biggest mobile operator in the South Caucasus, has been sold for just $180,000,000.

The amount is astonishingly ridiculous, considering the market cost of highly technological enterprises, especially such profitable ones, as Azercell. Let's recall the colossally high investments, Azerfon (Nar Mobile) has allocated and still continues to allocate to enter the Azerbaijani market.

This figure really causes bewilderment, as by some official information, the enterprise has been invested hundreds of millions of dollars. Azercell currently covers 78% of country's area and owing to it 99% of population has a chance to use services of this operator, apart from the cost of Azercell's brand.

But this is not the main point. Azerbaijan currently invests in various spheres abroad. Until we have oil revenues, the government intends to gain from investments into the enterprises, which will further bring profits to our country. The question is: why invest into something abroad, while selling profitable domestic enterprises, considering that this business is beyond the oil sphere and is highly technological?

The reality is quite frustrating: if previously Azercell paid dividends to the Azerbaijani government, which meant that revenues stayed within the country, while now they will go to Finland and Turkey to the pockets of TeliaSonera and Turkcell, which has become unique owners of the leader of mobile communication in Azerbaijan by
means of Fintur Holdings BV.

Doesn't the Azerbaijani government have $180,000,000? Any average oligarch could have paid this amount. Wicked tongues could call other reasons-perhaps, some officials, discrediting the government, have deliberately set too low cost of the company and made a hand of the deal.

We just hope for unbiased investigation of the details of the said deal by the due state structures.

/Day.Az/