Turk Telekom to Invest $1 billion in acquisitions

Turk Telekom, a Turkish fixed line telephone operator is looking to invest up to $1 billion in acquisitions in Eastern Europe according to a report on Reuters.

Hakam Kanafani, Oger Telecom’s chief business development officer has said that Turk Telekom is studying the possibility of opportunities in Bulgaria, Romania, Kazakhstan, and Kosovo.

Kanafani also stated that growth will happen on telecommunications and internet in the CIS nations, Asia and the Middle East in general, and Turk Telekom is looking to expand in regions around Turkey although he is not sure whether it will be spent or not.

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