ECONOMY

Turks make bid for OTE’s Bulgaria unit

Turk Telekomunikasyon AS and Turkcell Iletisim Hizmetleri AS made initial bids for the Bulgarian mobile and fixed telephone unit of Hellenic Telecommunications Organization SA (OTE), seeking to grow abroad.

Turk Telekom, the country’s biggest phone operator, and Turkcell, the biggest mobile company in Turkey, submitted separate non-binding bids for Cosmote Bulgaria Mobile EAD, the companies said in stock exchange filings on Wednesday and on Tuesday.

Cosmote Bulgaria is also known as Globul and is the second-biggest mobile operator in Bulgaria. [Bloomberg]