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Turk Telekom says bids in Kyrgyztelecom tender

Turk Telekom has bid in a tender to buy up to 78% of Kyrgyzstan fixed-line phone monopoly Kyrgyztelecom, the company said in a statement to the stock exchange on Wednesday.

The Turkish operator said it would also obtain a mobile license through fixed-line operator Kyrgyz Telecom if it won the fixed-line tender. Kyrgyzstan said last month it planned to sell the stake in Kyrgyz Telecom for at least $45 million.

Germany’s Detecon won a previous tender in 2004 for the stake after offering $16.2 million but the Central Asian state’s parliament cancelled the deal, saying the price was too low.

Turk Telekom, which is controlled by Dubai-based Oger Telecom, was listed on the Istanbul Stock Exchange in May when the government cut its stake to 30% by listing a 15% holding. (Reuters)