Türk Telekom plans to turn Istanbul into a ‘telecom hub’ following its recent acquisition of the leading alternative telco Invitel, which has a strong presence in Central and Eastern Europe.
Commenting on the purchase – last week Türk Telekom agreed to pay €221 million for a 100% stake in Invitel – and quoted in Hürriyet, Türk Telekom’s DG Paul Doany said that its purchase of an international fibre-optic backbone would turn Turkey into a significant centre in the region.
Invitel’s CEO Martin Lea added that it preferred Türk Telekom as a purchaser as it had the necessary vision for growth and the resources for investment. In his view, it would become a strategic fibre-optic service provider that connects operators in the Middle East, Europe and North America.
Invitel, which has until now been owned by Mid Europa Partners, has a presence in 27 countries including Hungary, where it operates an IPTV service. It is Türk Telekom’s first international acquisition.