Republic of Azerbaijan acquired 51.3% interest in Azercell from Telia Company and Turkcell for EUR 222m.

Fintur Holdings B.V. (Fintur), jointly owned by Telia Company and Turkcell, has agreed to sell its 51.3 percent holding in Azertel, sole shareholder of the Azeri telecommunications operator Azercell, to Azintelecom, a company wholly owned by the Republic of Azerbaijan. Fintur divests its 51.3 percent holding in Azertel Telekommunikasyon Yatirim Diş Ticaret A.Ş (Azertel) to Azerbaijan International Telecom LLC (Azintelecom), wholly-owned company by the Republic of Azerbaijan. Fintur is owned jointly by Telia Company (58.55 percent) and Turkcell (41.45 percent).