5/27/2010

Acquisition of Invitel to make Istanbul a regional “telecom hub”

 

Aksam - Turkey’s landline operator Turk Telekom has signed an agreement to purchase Invitel International’s wholesale business. Assessing the agreement on the acquisition of 100 percent of the shares of Invitel International for EUR 221 million, Turk Telekom’s CEO Paul Doany said their first international acquisition will enable Turkey to become a telecommunications hub in its region and to compete with Frankfurt in this field. Invitel International is one of the leading service providers operating in Central and Eastern Europe.

 

Invitel Holding’s CEO Martin Lea praised Turk Telekom’s move to acquire Invitel to strengthen its leading position, saying “There were many companies interested in Invitel. The reason why we preferred Turk Telekom is that the company has the vision and resources to make the required investments to ensure continued growth.”

Turk Telekom; Invitel; acquisition; telecommunications sector; telecommunications investment; telecom hub; data service provider; capacity provider

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