Sistema announce intentions for Telsim bid

15 Sep 2005

According to Russian newspaper Vedomosti, Russia’s AFK Sistema is planning to table a bid for Turkey’s second largest mobile network operator Telsim. The paper quoted Sistema’s chief executive and majority shareholder Vladimir Yevtushenkov as saying that the company definitely planned to take part in the tender for the cellco. The government of Turkey has placed an initial start price of USD2.8 billion on the auction, with the deadline for pre-qualification bids set at 19 September, and the final date of bids on 5 December. To date, more than a dozen domestic and international groups have expressed an interest in buying Telsim, including Vodafone, Telenor, Etisalat and Hutchison Whampoa.

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