Baku, Azerbaijan, Nov. 21
By Huseyn Veliyev - Trend:
Wireless communications operator in Baku, Aztrank, intends to raise about 10 million manats, the company told Trend.
The company noted that these funds should be enough for it to be able to get out of the crisis and expand its network throughout the country.
"There are no changes so far and the current position of the company does not allow to build further strategies. Regarding expansion, the option of transition to a more promising LTE technology may be considered. We have received certain suggestions from Huawei."
"The funds that we intend to raise will allow us expand the LTE network in Baku, the Absheron Peninsula and in the major cities of Azerbaijan," the company said.
Earlier, Aztrank had stated that it could be put up for sale. Acquiring Aztrank, the main advantage of which is that it has frequency resources, may be of interest to private companies.
Presently, Aztrank provides CDMA wireless services. The operator’s network covers the cities of Baku, Sumgayit and the Absheron Peninsula.
The operator has approximately 400 subscribers. The subscriber base of the company over the past three years has decreased by about five times.
(1 USD = 1.7 AZN on Nov. 21)
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