Turkcell starts talks to buy rest of Astelit

News Wireless Ukraine 19 JUN 2015
Turkcell starts talks to buy rest of Astelit
Turkcell announced plans to start negotiations to buy out its Ukrainian partner System Capital Management. SCM holds 44.96 percent of shares in Euroasia Telecommunications Holding, the controlling shareholder of Ukraine mobile operator Astelit, which operates under the brand Life:). Turkcell holds 55.04 percent in Euroasia, a subsidiary based in the Netherlands. Further details of the potential acquisition were not disclosed. 

According to Ukraine publication BizLigaNet, Turkcell will acquire the additional shares as payment for loans made to Astelit. It also said that Turkcell is negotiating the acquisition of Ukrainian mobile operator Trimob, a subsidiary of the national operator Ukrtelecom. The deal is expected to close in the third quarter of this year.

Categories:

Mobile

Companies:

Turkcell,  Life:),  Astelit

Countries:

Ukraine

Tags:

M&A buyouts & divestments

Related Articles

TURKEY 13 JUL 2015

Turkcell completes acquisition of SCM Holdings

Turkcell completed the acquisition of SCM Holdings' (SCM) 44.96 percent stake in its subsidiary Euroasia Telecommunications Holding (Euroasia) based in the Netherlands, in which it had already held a 55.04 percent stake, as of 10 July.  SCM Holdings owns 100 percent of Astelit in Ukraine.

UKRAINE 29 JUN 2015

Turkcell buys rest of Ukraine's Life:) for USD 100 mln

Turkcell announced an agreement to buy the rest of Ukraine mobile operator Life:) for USD 100 million from its local partner SCM Holdings. Turkcell will buy the remaining 44.96 percent in the Netherlands-based holding company Euroasia owned by SCM. Euroasia owns 100 percent of Astelit, which operates under the Life:) brand in Ukraine. In addition to buying the rest of Astelit, Turkcell is settling Astelit's debts with SCM and providing a guarantee for up to USD 66 million in bank credit for Astelit. The acq

UKRAINE 10 JUN 2015

Turkcell's subsidiary Astelit launches 3G in Ukraine

Turkcell's subsidiary Astelit, which operates under the life:) brand in Ukraine, successfully launched its 3G service at a ceremony held in Kiev on 4 June. With this launch, life:) became the first GSM operator to offer 3G in Ukraine. With life:)'s 3G+, Ukrainians will enjoy 3G in its fastest form with 3-Carrier technology, which allows for download speeds of up to 63.3 Mbps. At the 3G tender held in Ukraine on 23 February, life:) had won the rights to invest in Lot1, which contains the most suitable freque

UKRAINE 30 APR 2015

Life:) Ukraine revenues lift 18% in Q1

Mobile operator Life:) Ukraine announced that its revenues grew by 17.7 percent year-on-year in the first quarter to UAH 1.059 billion. EBITDA grew by 13.8 percent to UAH 327.5 million. The EBITDA margin, impacted by currency exchange rate instability, decreased by 0.9 percentage points to 31 percent. The number of active subscriber grew by 10.8 percent year-on-year to 10.3 million. The total number of subscribers base increased by 9.6 percent, to 13.7 million. ARPU rose by 5.9 percent year-on-year to UAH 3

TURKEY 17 FEB 2015

Turkcell revenues up 8% to TRY 3.1 bln in Q4

Turkcell saw its Group revenues grow by 8 percent to TRY 3.103 billion  with the higher contribution of mobile broadband and fiber broadband revenues. Group EBITDA rose 8 percent to TRY 917 million with an EBITDA margin of 29.6 percent compared to 29.5 percent a year ago. Net income fell by 49 percent to TRY 258 million. Mobile business revenues in Turkey reached TRY 2.392 billion on 7 percent growth, while the EBITDA margin rose to 30.1 percent from 29.9 percent. Mobile broadband revenues rose by 44 percen

Just In

20 DEC 15:08

Dialog Axiata to offer Starlink satellite service across Sri Lanka

20 DEC 14:51

Sri Lanka raises LKR 10 billion in 5G spectrum auction

20 DEC 14:00

Vi introduces Niyo Zero Forex Markup Card for travelers

20 DEC 13:39

True reshuffles executive team

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.