Millenicom sales process completed

The sale process of internet service provider Millenicom to Albaraka Portföy Yönetimi A.Ş. Fourth Mixed Venture Capital Investment Fund has been completed.

SOCAR Türkiye, which operates in the main business lines of refining, petrochemicals, natural gas and energy trade, is transferring the telecommunications company Millenicom, one of the group companies outside these areas. As part of this agreement, Millenicom will now serve its customers under the umbrella of Albaraka Portföy Yönetimi A.Ş. Dördüncü Mixed Venture Capital Investment Fund.

Operating since 2019 under the umbrella of SOCAR Türkiye, Millenicom continues to be one of Türkiye's leading alternative operators by offering fast, no-commitment and quota-free fiber internet service to approximately 400 thousand subscribers. In addition to providing high-speed and uninterrupted internet service to individual and corporate customers, the company is well respected in the sector with its customer satisfaction-oriented approach.
The realization of this sale will contribute to SOCAR Türkiye's ability to increase its operational efficiency and realize its sustainable growth targets by focusing on its core business areas including refining, petrochemicals and natural gas.