Turkish Network Invests in Ukraine

Turkey's Turkcell has entered the Ukrainian mobile communication market following a decision to set up a joint venture with Digital Cellular Communication, which owns a GSM1800 license in the country.

Turkcell is investing US$50 million, and will take a 51% stake in the joint venture though its own subsidiary, Turktell.

The management believes that Ukraine, with its strong economic development prospect and low mobile penetration of 10%, offers significant growth potential. Turkcell already has interests in international GSM operations in Azerbaijan, Georgia, Kazakhstan, Moldova and Northern Cyprus."

Posted to the site on 18th December 2003