NEWS FROM TÜRKİYE

The New Anatolian - Chennai-based Dhanus Technologies, one of the fastest growing telecommunications companies of India, has acquired Borusan Telekom, Türkiye's first alternative telecom operator with A type (broad) licence. The Indian firm has reached an understanding with Borusan Holding for 100 percent acquisition of Borusan Telekom, supporting its growth strategy for Europe, a company release said. Borusan Telekom, which increased its revenues 1,600% in the last 5 years, has been operating in the sector since 1996 and acquired the first place among the alternative operators in fixed telephone services on the list of BT 500. Underlining the growth process of Dhanus Technologies in global markets, vice chairman S. Muthukrishan said: "Türkiye has a strategic position for us between Asia, Europe and Africa." Muthukrishan emphasised that the management of Borusan Telekom will continue without any changes and employees will undertake an important role in achieving the company's global targets. Borusan's exit from the telecommunication business is part of the group's restructuring to focus mainly on the steel sector. Borusan is a partner of world steel giant Arcelor Mittal and has a $500 million investment in it. The Borusan Group aims to reach $5 billion revenue by 2010.