Turkcell Appears Determined To Acquire Cosmofon

ISTANBUL - Turkey's top mobile phone operator Turkcell has started works to acquire Macedonian peer Cosmofon, the company said in a statement on Monday.
Turkcell said it would submit a binding offer for 100 percent shares of Cosmofon and its distributor Germanos, both owned by Greek operator OTE.
Cosmofon is the second largest mobile operator with 30 percent market share and 650,000 subscribers in Macedonia that has a population of 2 million.
Turkcell operates in eight countries with 62 million customers, a senior Turkcell official said.
"Turkcell will continue to seek opportunities in emerging businesses and countries like Macedonia," Serkan Okandan, Turkcell's Chief Financial Officer, said.
Turkcell had made a non-binding offer for Cosmofon in January.
(TÇ-AÖ)
(ECO)