Turk Telekom announced, in a statement to the Istanbul Stock Exchange, that an investment mandate decision had been agreed at a board meeting earlier this week, reports Reuters. ‘The decision was reached for the extraordinary general meeting… to mandate the management board for any kind of company purchases for up to USD1 billion within 2009,’ the company said. The extraordinary general assembly is scheduled to meet on 25 February. Although the operator did not reveal any particular acquisition targets, the company did submit a preliminary, non-binding bid for the Macedonian wireless operator Cosmofon last month.
In other news, Turk Telekom’s wireless subsidiary Avea announced this week that it had gained a net 244,000 subscribers since number portability was introduced in Turkey. Science Technologies and Communication Council (BTK) President Tayfun Acarer announced that 1.3 million subscribers have attempted to take advantage of number portability, which requires cellcos to allow customers to keep their phone numbers when switching to a different service provider, since it was introduced on 10 November 2008.