Vodafone completes $4.55bn Turkish deal
Pakistan Times Business & Commerce Desk

LONDON (England): Vodafone has completed the $4.55bn purchase of mobile phone firm Telsim after it signed a concession contract with Turkey’s telecoms board, according to press reports.

The mobile phone colossus won its bid for the Turkish firm last December, beating off stiff competition that included some big companies out of the Middle East.

Vodafone requires the concession, which is granted for a fixed period of time, in order to operate a telecommunications company in the country, although the period has not been disclosed.

The deal was cleared earlier this month after receiving approval from Turkey's top administrative court.●