7/29/2009

Turk Telekom sees USD 1.35 billion investment in 2009

Reuters - Turkish fixed line operator Telekom plans to invest TRY 2 billion (USD 1.35 billion) in 2009, excluding investments in its third-generation (3G) mobile network, said Chief Executive Paul Doany. Doany also stated at a news conference that Telekom hopes to pool its 3G investments with rivals Turkcell and Vodafone's local unit to cut costs. Telekom's mobile unit Avea expects to invest more than TRY 1 billion in 2009, mostly in 3G, according to Doany. The phone company generates most of its revenue from its fixed line business, although around 40 percent of revenues now come from Turk Telekom's market-leading broadband business and its Avea mobile phone unit - No. 3 in Turkey. Since the introduction of number portability in the highly competitive Turkish mobile communications market late last year, major players have seen costs rise as they spend on marketing initiatives and seek to lure customers with lower charges.

ENGLISH