Feeds

Voda gobbles Turkey cellco

Serves up $4.55bn

The essential guide to IT transformation

Vodafone is splashing out $4.55bn (£2.57bn) on Turkey's second biggest mobile operator as part of plans to enter one of Europe's biggest markets.

Vodafone won an auction for Telsim run by the Turkish Savings Deposit and Investment Fund.

Telsim has some nine million punters but in a country where just over half of the 72m population has a mobile, Vodafone reckons there's real scope for growth.

Part of the optimism is sparked by Vodafone's belief that Telsim has been "historically under-managed and suffered from under-investment in its network and customer propositions". To remedy the lack of cash that's been invested in the business Vodafone looks set to dig deep into pockets and invest around $1bn (£560m) in the business.

But, with Voda's know-how, cash and branding execs reckon they can turn the business around

"With a larger population than every European country except Germany, and a penetration level of approximately 53 per cent, the Turkish market represents a major growth opportunity," said Vodafone chief exec Arun Sarin.

"Our extensive operating experience and unique set of products and services positions us to compete effectively in such a youthful market and deliver a superior mobile experience to Turkish customers."

The deal is expected to be completed by spring next year. ®

Next gen security for virtualised datacentres

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?