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Telecoms reg approves Turk Telekom Invitel deal

Published 09/17/2010, 12:02 PM
Updated 09/17/2010, 12:04 PM

ISTANBUL, Sept 17 (Reuters) - Turkey's telecoms regulator has approved Turk Telekom's acquisition of units of European data capacity firm Invitel, part of Turk Telekom's drive to invest in its higher yielding data services business.

Turk Telekom first announced the planned acquisition in May.

"Turk Telekom will start all the necessary procedures and the acquisition process will be finished within the shortest time," the firm said in a statement on Friday. Invitel is currently owned by private equity firm Mid Europa. (Editing by Jon Loades-Carter)

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