Unnamed Turkish telco eyes Hungarian investment, trade group says

9 Oct 2012

An as yet unnamed Turkish telecoms operator is poised to invest between EUR250 million and EUR300 million (USD325 million and USD389 million) in the Hungarian communications sector, according to the president of the Turkish-Hungarian Chamber of Commerce and Industry, Suat Karakus. The official added that if realised, the deal would mark the biggest single investment by a Turkish company in the country to date – eclipsing Celebi Ground Handling Ltd’s EUR45 million investment in operating services at Budapest International Airport. Karakus declined do be drawn on the name of the company involved, but industry watchers note that Turk Telecom CEO Hakam Kanafani has expressed an interest in further expansion in central and eastern Europe. Turkey’s biggest player has already purchased units of Hungarian altnet Invitel Holdings for USD275 million in 2010, and in spring 2012 Kanafani told reporters he was interested in further expansion that ‘will have synergies with Turkey’.

Hungary, Invitel (a subsidiary of DIGI), Turk Telekom