Turkey primarily based Turkcell has introduced that it’s shopping for out its minority companion in a Ukranian subsidiary for USD100 million.
Turkcell at present owns fifty five.04% of the Ukranian cell community, Astelit, which trades underneath the “Life :)” brandname.
As a part of the deal, Turkcell is paying USD100 million for the excellent shares, that are held by SCM Holdings via a Netherlands subsidiary. That stake is in the end owned by one in every of Ukraine’s richest oligarch, Rinat Akhmetov.
Akhmetov additionally owns the nation’s largest landline telecoms operator, Ukrtelecom.
Turkcell CEO Kaan Terzioğlu said, “As Turkcell, we had declared that we might be evaluating each natural and inorganic development alternatives to strengthen our place within the nations the place we function. On this context, now we have taken the primary main step in Ukraine. We imagine that Ukraine can be a hit story for Turkcell’s worldwide operations and a pilot nation as we switch our expertise to the area.”