Azeri tycoon Mansimov announces Palmali’s value
Azerbaijani tycoon Mubariz Mansimov has announced that the Palmali group of companies he owns is estimated at $6-7 billion.
"We have purchased a radio station, a television channel. We are now opening another one. Palmali has no ambitions other than business. I am the company’s owner, and I have no political ambitions," the Turkey-based businessman told Russia’s Kommersant newspaper.
Mansimov said further that he had purchased cargo planes but later sold them.
"This is not our segment [of the market], and I am not going to take on this business again. This sector is very hard [to work in] and corrupt."
Mansimov owns one of the world’s biggest oil and cargo transportation fleets, which includes about 200 ships.
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