May 18, 2010 15:00

Türk Telekom Announces Acquisition of Invitel International

Published under About TT > Press Bulletin

Türk Telekom, has signed a share purchase agreement to acquire Invitel International which is one of the leading independent data and wholsale capacity service providers of Central and South-Eastern Europe with a high-quality 27,000 km optical fiber network and presence in 16 countries.

Türk Telekom, the leading communication and convergence technology company in its region, is pleased to announce that it has signed a share purchase agreement to acquire 100% of Invitel International from Invitel Holdings A/S for an enterprise value of 221 million Euro. The total cash consideration for the transaction is approximately 197 million Euro; subject to customary closing adjustments.

Invitel International is the leading independent provider of wholesale data and capacity services in Central and South-Eastern Europe with a high-quality 27,000 km optical fiber network and presence in 16 countries.

The acquisition will allow Türk Telekom to capitalize on its unique geographic “hub” location by connecting increasing data/broadband traffic within the Central Eastern European region, and from Turkey, Middle East and Asian markets to Western Europe and the United States. In addition, the acquisition provides opportunities for synergies between Invitel International and Türk Telekom, and will further strengthen both organizations relationship with their international data and broadband customers, for whom dependable end-to-end service is critical.

Completion of the transaction is subject to certain closing conditions, including regulatory approvals.