Turkcell to attain 80% stake in BeSt (Belarus)The leading provider of mobile communications in Turkey, Turkcell signed a Sale and Purchase Agreement (”SPA”) to acquire a 80% stake in Belarusian Telecommunications Network (”BeST”). With the fulfillment of the conditions set forth in the SPA transactions will be completed. The stake will be acquired from the State Committee on Property of the Republic of Belarus for a consideration of $500 million.
“The acquisition of BeST represents an opportunity for Turkcell to gain access to a market with a growth potential. Belarus is an attractive emerging market within Turkcell’s growth geography with its young and well educated population and steadily growing economy. We are also happy to be starting our operations with an already established third operator in Belarus,” said Turkcell CEO Sureyya Ciliv.
