Vodafone enters fixed line market in Turkey

28th Jul 2011 08:12

Vodafone Turkey has agreed terms with the Koç Group to acquire Koç.net, the fixed voice and data services provider, for £11m. The move will enable Vodafone Turkey, a subsidiary of UK telecoms titan Vodafone, to enter the fixed line (ADSL) market for the first time and expand its enterprise division, which saw growth of 36% in the financial quarter ending 30 June 2011.The acquisition builds on the acquisition last year of telecommunications provider, Borusan Telekom. The Koc.net transaction is subject to Turkish Competition Authority approval and is expected to complete in the fourth calendar quarter of 2011.Vodafone's share price was down 0.52% to 163.20p at 8:17am. NR