Vodafone buys Turkish mobile firm

Iria · Dec 13, 2005, 10:13 AM

Vodafone is buying Turkey's second biggest mobile telephone operator, Telsim, for $4.5bn (£2.5bn).

It outbid Kuwait's MTC to win the auction for state-owned Telsim, which holds about 25% of the Turkish market with 9 million customers.

Vodafone will provide $1bn in extra funding for Telsim, which is expected to make a loss in the short term.

The privatisation of Telsim will give further impetus to Turkey's economic case for membership of the EU.
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Read More / Source: BBC News

Dec 13, 2005, 10:13 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 74	Vodafone buys Turkish mobile firm Vodafone is buying Turkey's second biggest mobile telephone operator, Telsim, for $4.5bn (£2.5bn). It outbid Kuwait's MTC to win the auction for state-owned Telsim, which holds about 25% of the Turkish market with 9 million customers. Vodafone will provide $1bn in extra funding for Telsim, which is expected to make a loss in the short term. The privatisation of Telsim will give further impetus to Turkey's economic case for membership of the EU. ___________ Read More / Source: BBC News