BELARUS NEWS AND ANALYSIS

DATE:

01/05/2008

Turkcell says in talks to buy Belarus operator

ISTANBUL, May 1 (Reuters) - Turkey's leading mobile phone operator Turkcell TCELL.IS(TKC.N: Quote, Profile, Research) is in talks to buy 80 percent of Belarussian Telecommunication Network (Best), a Turkcell official told Reuters on Thursday.

Turkcell has previously said it had held talks on buying a controlling stake in Best, but did not specify the size of the stake.

"The negotiations are continuing on purchasing 80 percent of the shares," a Turkcell official who declined to be named told Reuters.

The official would not comment on press reports in Belarus that the acquisition could be worth $500 million.

"It is not possible to state the price," the official said, but added that the payments would likely be made in instalments if the talks succeeded.

Four mobile phone operators compete in Belarus, a nation of 9.72 million people.

Russia's top mobile phone operator Mobile TeleSystems (MTS) (MBT.N: Quote, Profile, Research) has also shown interest in buying Best, which is the third-biggest mobile operator in Belarus, with a 3 percent market share.

Turkcell Chief Executive Officer Sureyya Ciliv said in February he expected the company would make its decision on the purchase within three months.

The Turkish mobile operator is also in talks to buy the leading Syrian operator Syriatel. (Reporting by Ercan Ersoy, editing by Will Waterman)

Source:

http://in.reuters.com/article/asiaCompanyAndMarkets/idINL0172930320080501

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