Bloomberg News

Turkcell Says No Decision to Bid for Bulgaria’s Globul

June 26, 2012

(Corrects to remove reference to units in other countries in fourth paragraph in story published yesterday.)

Turkcell Iletisim Hizmetleri AS (TCELL), Turkey’s largest mobile-phone company, said it has made no decision on bidding for Globul, the Bulgarian mobile-phone unit of Athens-based Hellenic Telecommunications Organization SA. (HTO)

Turkcell continues work on evaluating acquisition opportunities in countries near its home market, the company said in an e-mailed statement today.

Vodafone Group Plc (VOD), Turkcell and Orange SA, controlled by France Telecom SA (FTE), may be among the potential buyers of Globul, Capital newspaper reported, without citing anyone.

Hellenic Telecommunications hired Citigroup Inc. (C:US) as adviser.

Globul has 4.3 million subscribers and had 413 million euros ($516 million) of revenue in 2011, Tera Stock Brokers, based in Istanbul, said in an e-mailed note.

An auction to sell 94 percent of Bulgaria’s largest fixed- line company Vivacom, (5BT) in which Turkcell also bid, failed in early May as sellers canceled the process.

Turkcell shares rose 2.3 percent to 8.88 liras at 2:46 p.m. in Istanbul trading, gaining for a fourth day in the longest winning streak since Feb. 20. The company’s shareholders include TeliaSonera AB (TLSN), Altimo of Russia and Cukurova Holding AS of Turkey.

To contact the reporter on this story: Ercan Ersoy in Istanbul at

To contact the editor responsible for this story: Benedikt Kammel at

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