Turk Telekom says 300 mln euro allotted for acquisitions

ISTANBUL, Sept 25 Tue Sep 25, 2012 4:13am EDT

ISTANBUL, Sept 25 (Reuters) - Turkish telecoms company Turk Telekom has allotted up to 300 million euros ($387 million) to its management board for acquisitions, new Chief Executive Officer Tahsin Yilmaz said on Tuesday.

The company considers acquisitions as part of its global growth strategy, Yilmaz told journalists. Yilmaz was appointed CEO earlier this month.

Turk Telekom shares were down 1.94 percent to 7.08 lira after the communications minister was quoted as saying Turkey was considering a public offering of a stake by the end of the year.

($1 = 0.7743 euros) (Writing by Daren Butler/Seda Sezer; Editing by Nick Tattersall)

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