Turkcell acquires Belarus Mobile Operator for 600m Dollars
Belarusian mobile service operator BeST has sold 80 per cent of its shares to the Turkish mobile company Turkcell. An agreement on this was signed in Minsk on Tuesday [29 July]. The cost of the transaction stands at 600m dollars, and Turkcell is expected to invest 400m dollars in the ramification of BeST's networks.
Mikalay Pantsyaley, Belarusian Minister of Telecommunications and Informatization, said the deal is lucrative for both sides. Even though the country's market of mobile services is divided between major operators, there is still a resource of about a million subscribers and territories for additional coverage by cell networks still exist, too, Pantsyaley said.
He added that, above all, the primary objective now is to introduce third-generation and fourth-generation mobile technologies.
Pantsyaley also said that Turkcell promises to make BeST one of the most efficient operators in the world.
At present, the Belarusian market of mobile telephony has four major operators, and BeST, the youngest of them, still has a rather modest share of the nationwide clientele. It serviced slightly more than 180,000 subscribers at the end of last year.
The company was registered 5 November, 2004. Its co-founders are the Research Institute of Automation Instruments and the state unitary enterprise Beltelekom, whose stakes total 75 per cent and 25 per cent respectively.
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