Turkcell says eyeing Greece's TIM Hellas operator

[Clearday-TRForce]

Turkcell says eyeing Greece's TIM Hellas operator
Saturday, November 18, 2006

ISTANBUL - *******


http://www.itna.ir/archives/images/turkcell.jpg

Turkey's leading mobile phone operator Turkcell said it was interested in purchasing one of Greece's leading mobile phone operators, TIM Hellas, but said no bid had been placed.

"As part of its efforts to selectively seek and evaluate new international investment opportunities, it (Turkcell) is investigating, among others, the possibility of a purchase of TIM Hellas Telecommunications S.A., the Greek GSM mobile operator," Turkcell said in a statement.

Turkcell said it would need approval from its board were it to bid for the company.

Texas Pacific Group and Apax Partners bought a controlling stake in TIM Hellas in April 2005 for 1.1 billion euros ($1.41 billion). According to press reports, the two equity funds are looking to sell the Greek mobile phone operator for three billion to four billion euros.

Last week Turkcell posted a 12 percent rise in net profits to $311.8 million in the third quarter year-on-year.



regards,
CDTRF

[Thor]

I thought we were taking over Turkcell.. Got to see whatever happened to that.

[Beykoz]

Telia Sonear ownes %37 of Turkcell.

Cukurova Group and Yapi Kredi Bank own %27 and %13 respectively and the rest is owned by public share holders. YKB used to be owned by Cukurova but sold majority of its stake to KocBank which is owned by Koc Holding and Uni Credit.

Russian Alfa Group ownes %49 of Cukurova Group, which further complicates things by giving them an indirect control of nearly half of Cukurova's stake.