Avea hits ten million subs

Turkey’s third largest cellular operator in terms of suscribers, Avea, says it ended 2007 with ten million customers and is targeting 13 million by the end of this year. The firm’s chief executive, Cuneyt Turktan, says Avea invested USD302 million last year, with a similar spend expected in 2008. Revenues for 2007 stood at TRY1.696 billion (USD2.22 billion), up from TRY1.259 billion a year before. EBITDA increased from TRY172 million in 2006 to TRY306 million in 2007, Reuters reports.