Fintur Holdings B.V.
Rivium 1 e Straat 9, NL2909
Capelle aan den Issel
Totterdam, the Netherlands
Fintur Holdings B.V.
is one of the leading providers of mobile telecommunications services
in the Eurasian emerging markets through its operations in Azerbaijan,
Kazakhstan, Georgia and Moldova.
The total population in the countries where Fintur operates exceeds
31 million and the Company’s network coverage spans over 23 million
The Company is the number one GSM operator in Azerbaijan and Kazakhstan.
As of 31 December 2002, Fintur’s Operating Company in Azerbaijan,
Azercell, had 668,598 subscribers and an 85% market share. In Kazakhstan,
Kcell, it had 614,512 subscribers and a 73% market share. The Operating
Company in Georgia, Geocell, had 198,463 subscribers and a 40% market
share and in Moldova the Operating Company, Moldcell, had 132,335
subscribers and a 50% market share. In Fintur’s markets mobile telephony
is at an early stage with penetration ranging between 5.7% and 10.0%
as of December 2002. As part of its strategy, Fintur intends to maintain
and improve its current competitive position in each of its markets
and to expand into new markets within the region.
Through its Operating Companies, Fintur provides voice services, international
roaming services, and a wide range of value-added services including
voicemail, short message system (“SMS”), e-mail, economic and entertainment
information services, call forwarding/barring/waiting, fax data, caller
identification and dual numbering. In some of its markets, Fintur
provides wireless application protocol (“WAP”) services and is planning
to introduce high-speed data services and unified messaging.
The major shareholder of Fintur Holdings B.V. is TeliaSonera with
its 58.55% stake. The second shareholder is Turkcell, Turkey’s leading
For Fintur Holdings B.V., having TeliaSonera and Turkcell as shareholder
provides enhanced growth potential. It is also certain that the future
prospects of companies will also improve as a result of such relationship.
Company’s Vision, Strengths
Fintur Holding’s vision is to be the number one player in the Eurasian
and surrounding region and be a main growth engine with high profit
margins within TeliaSonera’s international operations.
Future plans of the Company includes to ensure profitable growth in
the existing operations while promoting mass-market approach in the
new markets by establishing strategic partnership to minimize political
risks, strengthen financial and regional position, creating synergy
in the Group Companies by more effective use of all resources and
continuing to broaden the market for mobile services through the timely
introduction of new services and tariff structures targeted at a wide