30 Apr 2015
Turk Telekom has signed a share transfer agreement with partner Is Bankasi (IS Bank) to acquire the latter’s 10.0035% stake in mobile unit Avea for a price of TRY875 million (USD329 million).
6.3% of the total fee will be paid in two equal instalments by January 2017, with the remaining 93.7% to be paid thereafter via four equal instalments, with the transaction eventually closing in 2020. Following the necessary approvals, Turk Telekom will become the sole owner of Avea.