India-based communications service provider Dhanus Technologies has reached final the round of negotiations with Turkish company Borusan Holding, to acquire its telecommunication arm, Borusan Telekom. According to a report from India's Economic Times, Dhanus emerged as the lead bidder quoting over INR 3 billion for Borusan's telecommunication assets. Sources close to the deal said the acquisition, if materialised, will be a leveraged buyout with ICICI Bank being the lead lender. S Muthukrishnan, vice chairman, Dhanus Technologies, said that the company is scouting for acquisitions in the European market, but he declined to comment on individual deals. Borusan's exit from the telecommunication business is part of the group's restructuring to focus mainly on the steel sector. Started in 2002, Borusan Telekom serves the business sector with voice and data services, operating 36 PoPs around Turkey as well as international links.
