Turkey’s top cell co wants to buy stake in Zain, says CEO-International Business-News-The Economic Times
Turkcell Iletisim Hizmetleri, Turkey’s biggest mobile phone company, is considering buying a stake in Zain, Kuwait’s largest mobile operator, chief executive officer Sureyya Ciliv said.
“Zain is one of the companies our international development group is looking at, but at the moment there is no important development,” Ciliv said in Istanbul on May 6 in comments carried by Turkish newspapers and confirmed on Sunday by a Turkcell official who declined to be named in line with company policy. “We’re looking at the numbers and doing preliminary work on whether it’s suitable for Turkcell,” Ciliv said.
In March, Zain and Bharti Airtel had struck a deal to buy the Kuwaiti telecom firm’s operations in 15 African countries for $9 billion. Bharti said last month that it expected to close the deal by mid-May .
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