Turkcell To Provide Astelit With USD 250 mln For Expansion
12 January 2008
Turkish telecom operator Turkcell plans to invest up to USD 250 mln in Ukrainian Astelit to boost the latter’s Ukrainian expansion. Alexander Paraschiy: At the moment Astelit has developed nation-wide network, but its customer base is so low that the company is not breaking even: Astelits’ owner, Euroasia recorded sales smaller than depreciation expenditures. Total losses for 3Q06 amounted USD 168 mln. Thus, Astelit needs investments to help attract new customers.
