Telsim auction to be televised live

12 Dec 2005

The auction of Turkish wireless operator Telsim is scheduled to get underway today and will be televised live over the national broadcast network. Six potential bidders are in the running – Vodafone, Russian giant Sistema, MTC of Kuwait, Etisalat, Orascom and Dubai-based construction company Emaar – with the stake carrying a USD2.8 billion reserve. Bankers expect the actual selling price to be much higher, however, possibly as much as USD5 billion. Such a figure could well be beyond the reach of a number of the bidders, including Vodafone which has recently come under pressure from investors because of a decision to stick with its underperforming Japanese operation Vodafone KK. MTC and Emaar and seen as the front-runners by Turkish pundits.

Turkey, Vodafone Turkey