Thursday, September 23, 2004

Turks.US - Turkey's Turkcell signs Iran mobile deal

Turks.US - Turkey's Turkcell signs Iran mobile deal: "Turkey's Turkcell signs Iran mobile deal

Turkey's largest mobile phone operator has signed a contract to build a network in Iran. The deal, which Turkcell announced on Thursday, could be worth as much as $3bn (£1.7bn).

Turkcell, having more than 20 million subscribers only in Turkey, refused to comment beyond a short statement confirming the signing of the deal by Irancell, its 51%-owned subsidiary.

The majority ownership puts it within the reach of the proposed law, which as currently written backdates the parliamentary veto over firms with more than 49% control by foreigners to 20 March this year.

Turkcell has yet to finalise the deal with a 300m euro ($370m; £205m) payment which will put the mobile licence in Irancell's hands."

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