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VODAFONE AGREES TO BUY BORUSAN TELEKOM
ISTANBUL - Vodafone Holding Joint Stock Company has agreed to acquire entire stakes of Borusan Telekom and Communication Services Joint Stock Company.
29.12.2009 - Update : 29.12.2009
Borusan Telekom provides fixed-line and Internet Connections, to help improve third-generation services.
Borusan Investment and Marketing statement said an agreement was reached with Vodafone Holding Joint Stock Company for the sale of 100 percent stakes of Borusan Telekom and communication Services.
The statement said the sales procedure depended on approval of Competition Board.
Vodafone, the UK-based GSM operator, entered Turkish mobile phone market in 2005 after it won a public auction to purchase Telsim, for a price of 4.5 billion USD.
Borusan Telekom is an enterprise focused provider of fixed voice and data services in Turkey. As at 31 December 2008, Borusan Telekom had gross assets of 18 million USD and for the year ended 31 December 2008, net revenues of 70 million USD.
Serpil Timuray, Vodafone's chief executive for Turkey, said the acquisition would help vodafone add corporate clients for fixed-line and mobile services. She did not disclose the price of the purchase and said it was subject to approval by regulators.
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Borusan Investment and Marketing statement said an agreement was reached with Vodafone Holding Joint Stock Company for the sale of 100 percent stakes of Borusan Telekom and communication Services.
The statement said the sales procedure depended on approval of Competition Board.
Vodafone, the UK-based GSM operator, entered Turkish mobile phone market in 2005 after it won a public auction to purchase Telsim, for a price of 4.5 billion USD.
Borusan Telekom is an enterprise focused provider of fixed voice and data services in Turkey. As at 31 December 2008, Borusan Telekom had gross assets of 18 million USD and for the year ended 31 December 2008, net revenues of 70 million USD.
Serpil Timuray, Vodafone's chief executive for Turkey, said the acquisition would help vodafone add corporate clients for fixed-line and mobile services. She did not disclose the price of the purchase and said it was subject to approval by regulators.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
