Turk Telekom places binding bids for Cosmo Bulgaria, Germanos Telecom

18 Apr 2013

Turkey’s largest telecoms company Turk Telekom has announced in a statement on 17 April 2013 that it has placed binding bids to buy Bulgaria’s cellco Cosmo Mobile (Globul) and its affiliated retail chain Germanos Telecom Bulgaria. Greek telco OTE has previously extended the deadline for bids in the proposed sale of its Bulgarian mobile subsidiary by one month after it was revealed that some prospective buyers needed additional time to prepare requisite documentation. The auction is set to take place on Friday 19 April 2013, an employee of Cosmo indicated to TeleGeography.

According to TeleGeography’s CommsUpdate the OTE-owned wireless operator is being chased by Turkcell, Turk Telekom, Telenor and Deutsche Telekom (DT), although the German company – which has a 40% stake in OTE – is thought to be involved only to encourage serious offers from the other players. The deal is expected to be worth around EUR700 million (USD950 million).

Bulgaria, Cosmote, Deutsche Telekom (DT), Telenor Bulgaria, Telenor Group, Turk Telekom, Turkcell