Turkcell pushing Balkan acquisition spree

By bne IntelliNews November 26, 2012

bne -

Less than a week after bidding for Bulgaria's second largest mobile operator, Turkcell is reportedly preparing an offer for Bosnia-Herzegovina's BH Telecom, as the Turkish giant seeks via M&A to extend its reach across the Balkans.

According to the local press, Turkcell is preparing to bid for Bosnia-Herzegovina's largest mobile operator, which enjoys a market share of 45% and capitalization of around $800m on the Sarajevo Stock Exchange.

Last week, Turkcell placed a non-binding bid for a 100% stake in Bulgaria's second largest mobile communication company Cosmote Bulgaria Mobile EAD, after losing out in the summer on the largest player in the country - Vivacom - to a consortium led by Russian state bank VTB.

The Turkish company is also one of five bidders to enter the final round for a 75% stake in Kosovo Post and Telecommunications Corporation (PTC), a process on which Pristina extended the deadline on November 23. The government will now accept offers until January 15, it said, according to Reuters. It had previously said the tender process would end in the second half of November.

"This extension is decided also in the interest of having support from financial institutions, particularly after Kosovo's membership of the EBRD," the Kosovo Ministry for Economic Development said. Kosovo will become a full member of the European Bank for Reconstruction and Development on Dec. 17.

The government said in 2010 it hoped to make €300-600m from selling the stake - which does not include PTC's postal arm - but has not given a more recent valuation. The company has more than 1m mobile subscribers and 100,000 landline customers. It also provides internet and cable TV services.

Notice: Undefined index: social in /var/www/html/application/views/scripts/index/article.phtml on line 259

Related Articles

Macedonia kept on hold as Balkans edges towards EU goal

Clare Nuttall in Bucharest -   Macedonia’s EU accession progress remains stalled amid the country’s worst political crisis in 14 years, while most countries in the Southeast Europe region have ... more

Austria's Erste rides CEE recovery to swing to profit in Jan-Sep

bne IntelliNews - Erste Group Bank saw the continuing economic recovery across Central and Eastern Europe push its January-September financial results back into net profit of €764.2mn, the ... more

CEE leaders call for Nato troops to help deter Russian aggression

bne IntelliNews -   Central and Eastern European leaders blasted Russian "aggression" on November 4 and called for Nato to boost its presence in the region. The joint statement, issued at an ... more