TODAY.AZ / Business

SOCAR not Star media group shareholder anymore

11 August 2014 [08:30] - TODAY.AZ
The State Oil Company of Azerbaijan is an international business company, which, depending on the economic efficiency purchases various assets, and in the case of economic benefits, sells them, Head of the Public Relations Department of SOCAR Nizamaddin Guliyev told Trend

The deaprtment head made the remarks commenting on the recent information about the sale of SOCAR share in the Turkish"Star" media holding.

The issue of the sale of share, is associated with fluctuations in the market value of those assets and economic efficiency, according to Guliyev.

Earlier, the information disseminated in a number of media that SOCAR, controls the media holding has been refuted by the state company. SOCAR reported no involvement in the management of the holding.

Apparently, the company has decided to sell assets due to non-implementation of control of "Star" media holding.

Guliyev indirectly confirmed the information on the sale of SOCAR`s share in the media holding.

Reuters reported Aug.9 that SOCAR is in talks with Turkish businessman Fettah Tamince to sell its 50 percent stake in Turkey's Star media group.

Star media group, which SOCAR jointly owned with businessman Ethem Sancak, consists of Star newspaper and a couple of television channels.



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