Turk Telekom makes offer for Globul and Germanos Telecom

21 Nov 2012

Reuters reports that Turk Telekom has placed non-binding bids to acquire Bulgarian cellco Cosmo Mobile (Globul) and Bulgarian telecoms retailer Germanos Telecom Bulgaria. The companies, both owned by the beleaguered Greek operator OTE (via its mobile division Cosmote), have been up for sale for several months. In a statement to the Istanbul Stock Exchange, Turk Telekom said that the move comes as part of its plans for regional expansion. According to TeleGeography’s GlobalComms Database, Globul is Bulgaria’s second largest cellco by subscribers, claiming a market share of 35% at the end of September 2012.

Bulgaria, Cosmote, Cosmote (old), Telenor Bulgaria, Turk Telekom