Telsim, Turkcell confirm financial plans

10 Jan 2007

Turkey’s number-two cellular operator Telsim-Vodafone has said it plans to invest USD1 billion over the next two years to modernise and expand its networks. The firm’s CEO Attila Vitai says that the investment will give Telsim ‘the best network in Turkey’. The USD1 billion spend will cover core and transmission infrastructure, as well as IT and other services, with infrastructure deals already signed with Motorola and Nokia. Vodafone of the UK completed its USD4.55 billion buyout of Telsim in May 2006.

Meanwhile, Turkey’s largest mobile operator Turkcell says it has arranged USD3 billion in financing to fund its international expansion strategy. Although potential targets have not been revealed, the firm has confirmed its interest in launching operations in Saudi Arabia.

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