Turk Telekom today confirmed it is buying 100% of Invitel International, a central and south European wholesale and data services provider, for an estimated EUR197 million (USD243 million). Turk Telekom hopes the all cash deal will help it to capitalise on its strategic position, sitting as it does at the gateway between Europe and Asia. As a result of the deal Hungarian altnet Invitel Holdings, which Denmark’s TDC sold to the private equity firm Mid Europa Capital in 2009, will offload its international wholesale business in order to focus on its domestic retail business in Hungary. In return, the Turkish incumbent gains control of a 27,000km fibre-optic network, a network of operations in 16 countries, and Invitel International subsidiaries AT-Invitel (Germany), Invitel International Hungary and EuroWeb Romania. Invitel International reportedly has an enterprise value of EUR221 million.
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