AzEurotel transformed into JSC under Communications Ministry

Organizational and legal form of AzEuroTel Joint Venture, functioning in communications sector of Azerbaijan for more than 16 years, has been changed and it became into JSC under the Ministry of Communications and IT, Spokesman for the Ministry of Communications and IT Mushfig Amirov said.

AzEurotel was established in 1995 by Azerbaijan’s Communications Ministry and Great Britain’s LUKoil-Europe Ltd. AzEurotel having 30,000 numbers and 27,000 users, always offers modern and exemplary services to its users, but recently, there occurred a lot of problems in financial economic activity of the company. Large amount of debts have occurred to external organizations, attraction of the enterprise decreased for investors and despite privatization, this process had not been finished.

Taking abolishment of LUKoil-Europe Ltd and refuse from share in the joint venture into account, at the same time, for the purpose of prevention of bankruptcy in future, for normalization of enterprise and for organization of future activity, organizational and legal form of AzEurotel was changed in accordance to the legislation, it was transformed into AzEurotel JSC under the Ministry of Communications and IT, Baku Telephone Communications Production Union.

During this process, director general of the enterprise Nuru Ahmadov was dislodged and Sabit Rasulov was appointed to this post.


/APA/