Vodafone | July 28, 2011 | Press Release
Vodafone Turkey today announced that it has agreed terms with the Koç Group to acquire Koç.net1 for a cash consideration of TRY30 million (£11 million2). Koç.net provides fixed voice and data services to enterprise customers and will enable Vodafone Turkey to enter the ADSL market for the first time.
The transaction supports Vodafone Turkey’s strategy to expand its enterprise division, which saw growth of 36 per cent in the financial quarter ending 30 June 2011. It follows Vodafone Turkey’s acquisition of business telecommunications provider, Borusan Telekom, early last year.
The transaction is subject to Turkish Competition Authority approval and is expected to complete in the fourth calendar quarter of 2011.
