Today.Az » Business » Russia's Lukoil left another project in Azerbaijan
26 May 2011 [19:11] - Today.Az
Russian company Lukoil relinquished its stake in AzEuroTel, said deputy minister of communications and IT Iltimas Mammadov.
Remind that, the share of Lukoil in a joint venture AzEuroTel was 49%.
Tom him, Lukoil addressed Azerbaijani state bodies and refused its share in the enterprise. Consequently, AzEuroTel came under the control of Baku Telephone Communications Industrial Union.
"Lukoil simply renounced its share", said deputy minister. He added that the work AzEuroTel was not profitable and the company had debts before the merger.
/APA/
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