Vodafone wins Turkish mobile firm auction
Published December 13th, 2005
Vodafone is buying Turkey’s second biggest mobile telephone operator, Telsim, for $4.5bn (£2.5bn).
It outbid Kuwait’s MTC to win the auction for state-owned Telsim, which holds about 25% of the Turkish market with 9 million customers.
Vodafone will provide $1bn in extra funding for Telsim, which is expected to make a loss in the short term.
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