According to Romanian business daily Ziarul Financiar, Turk Telekom intends to invest around EUR2 million (USD2.6 million) in its Romanian subsidiary, corporate-focused broadband operator Euroweb, during 2012, with a view to doubling its subscriber base to 2,000 by 2014. A total investment of EUR10 million has been earmarked for the operation during the next four years.
Founded in 1998, Bucharest-based Euroweb Romania provides broadband internet and IP telephony services to corporate clients in Romania’s 40 largest cities. With an independently-owned 850km fibre-optic network in Bucharest, additional regional centres in Timisoara, Cluj, and Iasi, and four strategic cross-border points, Euroweb offers business customers a comprehensive product suite that also encompasses server collocation services, virtual private networks (VPN), interoperability, toll-free number implementation, video conferencing and e-commerce applications. Turk Telekom acquired Euroweb Romania from Hungarian telco Invitel in October 2010; no purchase price was disclosed.