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January 10, 2007

We're Justing Looking For $3 Billion

posted by MR WAVETHEORY at 1/10/2007 11:01:00 AM
Turkish mobile operator Turkcell has mandated a group of banks to arrange a USD 3 billion financing line for the company. The lead arrangers Akbank, Citibank, Garanti Bankasi, HSBC, JP Morgan and Standard Bank will set up an unsecured syndicated financing through a committed facility amounting to USD 3 billion. Turkcell plans to use the financing for international expansion, although it did not name potential targets. Most recently the company said it plans to bid for a licence in Saudi Arabia and invest more in its Ukrainian subsidiary. Money is in no short supply in the Middle East! To which Vodafone responded, "We'll invest 1 billion dollars in 2 years." And so the telecom wars begin!

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