Intracom: Has Right To Buy 10% Of Telsim From Vodafone

ATHENS (Dow Jones)--Intracom, a Greek telecommunications and information technology company, said Thursday it has an option to buy as much as 10% of Turkish wireless operator Telsim Mobil Telekomunikasyon from Vodafone Group PLC.

An Intracom spokeswoman said a statement would be issued soon but couldn't be more specific. U.K. wireless operator Vodafone this week beat five rivals to win an auction for Telsim - Turkey's No.2 mobile phone company - with a $4.55 billion bid.

Responding to Intracom's statement, a Vodafone spokesman said: "We've had some preliminary discussions but there is nothing concrete."

Vodafone has been linked with local partners in terms of its Telsim ownership, according to a person familiar with the situation.

Intracom is also expected to announce shortly the outcome of cooperation talks with Russia's AFK Sistema JSFC.

Intracom is a provider of information and communications technology solutions and primarily serves the telecommunications, government, banking, enterprise and defense sectors.

Headquartered in Greece, the company has offices in 15 other countries and worldwide employs about 5,450 people.

Total company sales in 2004 reached EUR620.4 million.

The company focuses on southeast Europe, the Middle East and North Africa.

-By Paul Tugwell, Dow Jones Newswires; +30 210 331 2881; paul.tugwell@dowjones.com

(Kay Larsen in London contributed to this item)

(END) Dow Jones Newswires"

Posted to the site on 15th December 2005