16:26 - 30.10.2024

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October 30, Fineko/abc.az. SOCAR Turkiye Enerji, a Turkish “daughter” of the State Oil Company of Azerbaijan (SOCAR) has completed the sale of Internet provider Millenicom to venture fund of mixed investments Dorduncu Karma Girişim Sermayesi Yatırım Fonu under investment company Albaraka Portfoy Yonetimi A.Ş., ABC.AZ reports, referring to SOCAR Turkiye.

“SOCAR Turkiye, whose main activities are concentrated in the fields of oil refining, petrochemistry, natural gas and energy trade, is withdrawing from its asset telecom company Millenicom located outside these areas,” the company says.

The relevant agreement on the transfer of Millenicom was concluded with Albaraka Portfoy Yonetimi A.Ş. Dorduncu Karma Girişim Sermayesi Yatırım Fonu.

“SOCAR Turkiye Enerji has already completed this deal. Millenicom will now serve clients under the auspices of the above-mentioned venture fund,” the company says.

Millenicom, which has been part of group of companies SOCAR Turkiye since 2019, is one of the leading alternative operators in Türkiye, offering fast and unlimited fiber-optic Internet to approx. 400,000 subscribers.

“This transaction will contribute to improving the operational efficiency of SOCAR Turkiye and achieving sustainable growth goals by focusing on core business areas, including refining, petrochemicals and natural gas,” the company says.