Turkcell starts talks to buy rest of Astelit

News Wireless Ukraine 19 JUN 2015
Turkcell starts talks to buy rest of Astelit
Turkcell announced plans to start negotiations to buy out its Ukrainian partner System Capital Management. SCM holds 44.96 percent of shares in Euroasia Telecommunications Holding, the controlling shareholder of Ukraine mobile operator Astelit, which operates under the brand Life:). Turkcell holds 55.04 percent in Euroasia, a subsidiary based in the Netherlands. Further details of the potential acquisition were not disclosed. 

According to Ukraine publication BizLigaNet, Turkcell will acquire the additional shares as payment for loans made to Astelit. It also said that Turkcell is negotiating the acquisition of Ukrainian mobile operator Trimob, a subsidiary of the national operator Ukrtelecom. The deal is expected to close in the third quarter of this year.

Categories:

Mobile

Companies:

Turkcell,  Life:),  Astelit

Countries:

Ukraine

Tags:

M&A buyouts & divestments

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