Azerbaijan: Azercell

Established in 1996, Azercell was a joint venture between Azertel and the Azerbaijani Ministry of Communications. Currently, Fintur owns approximately 51% of Azercell through direct and indirect holdings. Despite incessant and intensifying price competition, the Company has managed to maintain its market leadership since its first year of operation.

Deriving its strength mainly from its wide coverage area, strong network structure, high quality service, extensive product range, highly professional staff and support of shareholders, Azercell allows its subscribers to make calls using the networks of 406 operators in 152 countries around the world. As of the end of 2010, Azercell had approximately 4 million subscribers, and held the leading position in the telecommunication sector.

Additionally, the Company holds the majority stake in Azeronline, the internet service provider established as a limited liability company in December 1999.