Astelit defaults on USD323m Turkcell debt

2 Feb 2012

Reuters reports that Turkcell has announced that its Ukrainian mobile subsidiary Astelit failed to pay debts of USD323 million due on 1 February 2012 to the Turkish group’s Euroasia and Financell units. Turkcell added that Financell may not be able to repay its bank loans, which are under the guarantee of Turkcell, after Astelit failed to service its debts.

Ukraine, Lifecell (formerly Astelit)