Koc, Turk Telekom to collaborate on Bulgarian Telecom bid
Turkey’s largest industrial trade financial conglomerate, Koc Group, recently announced that it will participate in Turk Telekom’s bid for a 65 percent holding in the Bulgarian Telecommunications Company (BTC), reported Milliyet .
Turkey’s landline operator submitted an offer last month for the acquisition of shares in BTC. Issued by the Bulgarian government, the authorities hope to collect close to $100 million from the sale, which has no minimum bid price and is open to both telecom companies and financial investors. The winning bidder will acquire the right to purchase the country’s third GSM license.
The Koc Group's principal activities are in the automotive, durable goods, retail, finance, foreign trade, tourism and energy sectors. Its industrial, commercial and energy divisions include Arcelik and Migros and its finance and foreign trade divisions include Kocbank. — (menareport.com)
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