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Turk Telekom says will bid for Kyrgyztelecom

Fri Aug 22, 2008 5:26am EDT

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ISTANBUL, Aug 22 (Reuters) - Turk Telekom (TTKOM.IS) said on Friday it will bid in a tender to buy a 78 percent stake in Kyrgyzstan monopoly Kyrgyztelecom following its completion of technical studies on the tender on Thursday.

Kyrgyzstan said last month it planned to sell the stake for at least $45 million.

"Turk Telekom completed technical studies yesterday for the Kyrgyz telecom tender, and it will bid," Turk Telekom Chief Executive Paul Doany told a news conference.

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

The first stage of the tender will take place on August 27, a senior official at the Kyrgyz State Property Committee said.

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 percent by listing a 15 percent holding. (Reporting by Ercan Ersoy; editing by Sue Thomas)



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