Turkish mobile operator Turkcell has not made a decision on whether to bid for Bulgarian mobile operator Globul, a subsidiary of Greece’s Hellenic Telecommunications Organization (OTE).
Commenting on media reports claiming Turkcell is one of several…
Turkish mobile operator Turkcell has not made a decision on whether to bid for Bulgarian mobile operator Globul, a subsidiary of Greece’s Hellenic Telecommunications Organization (OTE).
Commenting on media reports claiming Turkcell is one of several telecoms operators mulling bids for Globul, which OTE recently confirmed it is considering selling, a company spokesperson said “no process has been initiated by our company so far and no decision has been taken in this matter.” Should Turkcell decide to submit a bid, the spokesperson said the relevant information will be publically disclosed.
The spokesperson also reiterated that the company – Turkey’s largest mobile operator – is continuing to evaluate acquisition opportunities “in various countries”.
According to recent Bulgarian and international reports, OTE has hired the London arm of US-based Citigroup to advise it on the matter and the bank has already approached several telecoms operators, including Turkcell, Vodafone and France Telecom.
Turkcell submitted a formal bid for 94% of debt-laden Bulgarian Vivacom earlier this year, but the latter’s creditors cancelled the sale. However, Bulgarian media reported earlier this week that the creditors may reattempt to sell the company before the end of the year. Given OTE is also considering selling its other Bulgarian unit, Germanos Telecom Bulgaria, to help refinance debt, all three of the nation’s mobile operators could be sold.
Founded in 2001, Globul had about 4.3 million customers nationwide at the end of 2011. The company reported total revenues for that year of €412.5m.
