Turkcell negotiating to buy out Ukrainian partner in Astelit

24 Jun 2015

Turkey’s Turkcell has revealed that its board of directors have begun negotiations in an attempt to buy out its local joint investment partner in Ukrainian mobile operator Astelit, which trades under the life:) brand. Turkcell currently holds a 55% stake in Astelit’s 100% holding company Euroasia Telecommunications Holding BV (the Netherlands), while the other 45% is owned by local conglomerate System Capital Management (SCM), itself wholly owned by Ukraine’s richest man Rinat Akhmetov, which is also the parent of national fixed line incumbent Ukrtelecom. Interfax reported the latest development from Turkcell, although noted that SCM refused to comment on the matter under a policy to ‘not comment on hypothetical deals and plans.’

Ukraine, Lifecell (formerly Astelit), Turkcell, Ukrtelecom (incl. TriMob)