Azercell
Azercell is an Azerbaijani telecommunications company based in Baku. It is the largest mobile network operator in Azerbaijan. The company is owned by the ruling Aliyev family through offshore companies. In 2008, state shares were transferred to the Aliyev family's companies at a massive discount, effectively costing Azerbaijan's people at least $600 million.
Company background
Azercell Telecom LLC was established in January 1996 as a joint venture between the Azerbaijan government and Turkcell, a large Turkish mobile operator. In this arrangement, the Azerbaijan government owned 51% of the operator.Azercell Telecom started its activities on 15 December 1996. Azercell become the second-largest taxpayer operating outside the country's oil sector.
In 2004, TeliaSonera, a Swedish company, was involved in negotiations to privatize Azercell. The Azerbaijan government stepped in to block TeliaSonera from privatizing the state-owned company on its own. The government instructed TeliaSonera that Cenay Insaat and an unknown "local partner" had to undertake the privatization. Shares of the company were transferred to the local partner, which investigative reporting revealed was registered to offshore companies owned by the family of Azerbaijan ruler Ilham Aliyev.
In 2018, Fintur Holdings, in which Telia had a 58.55 percent ownership, sold its stake in Azertel to Azerbaijan International Telecom LLC, which is owned by the Republic of Azerbaijan.