Vodafone agrees deal to acquire Borusan

Vodafone Group has announced that it has successfully concluded negotiations to purchase a controlling stake in Turkish alternative fixed line telco Borusan Telekom, Bloomberg reports, citing Vodafone Turkey CEO Serpil Timuray. The acquisition will allow Vodafone to access Borusan’s nationwide IP/MPLS backbone network, strengthening the company’s 3G network and enabling the convergence of mobile, fixed line and broadband services. Timuray has said the acquisition will also help Vodafone add corporate clients for fixed line and mobile services. While not disclosing the value of the purchase, the CEO revealed that the acquisition remains subject to regulatory approval. As reported by CommsUpdate on 23 December 2009, purchase options discussed during negotiations included a 100% stock takeover, a majority stake purchase, or a partnership giving the UK-backed mobile operator management control of Borusan.