Telecom Italia investment in Turk Telecom to rise after bid battle (Forbes)

The battle for Turk Telecom became a two horse race between Saudi Oger and Etisalat. But the winner with $ 6.55 billion is Saudi Oger consortium which include Telecom Italia. Telecom Italia has now through cross shareholding via TT & TIM (mobile telecom operator) has effectively increased its overall shareholding in Turk Telecom and stabilised its position in Turkey without taking on additional debt.