ECONOMY

Intracom’s Telsim option

Greece’s Intracom telecommunications and information technology company said yesterday it has an option to buy up to 10 percent of Turkish wireless operator Telsim Mobil Telekomunikasyon from Vodafone Group PLC. An Intracom spokeswoman said a statement would be issued soon, but offered no more details. UK wireless operator Vodafone this week beat five rivals in an auction to buy Telsim – Turkey’s No.2 mobile phone company after Turkcell – from the Turkish government with a 3.79-billion-euro (US $4.55 billion) bid. Responding to Intracom’s statement, a Vodafone spokesman said, «We’ve had some preliminary discussions but there is nothing concrete.» Telsim, which holds about 25 percent of the Turkish market, is estimated to have close to 10 million customers. Intracom is also expected to soon announce 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. The Greek company has offices in 15 other countries and worldwide employs about 5,450 people. Total sales in 2004 reached 620.4 million euros (US $744.4 million). The company focuses on Southeast Europe, the Middle East and North Africa. (AP)