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Turk Telekom says to raise Avea capital to 11.2 bln lira to fund 4G
October 20, 2015 / 10:44 AM / 2 years ago

Turk Telekom says to raise Avea capital to 11.2 bln lira to fund 4G

ISTANBUL, Oct 20 (Reuters) - Turkish telecommunications company Turk Telekom said on Tuesday it was raising the paid-in capital of its subsidiary Avea, a mobile phone operator, to 11.2 billion lira ($3.9 billion) from 8.2 billion.

The proceeds would be used to pay the fees for 4G frequencies acquired in a tender in August, Turk Telekom said in a statement to Istanbul Stock Exchange.

$1 = 2.8940 liras Reporting by Ceyda Caglayan; Writing by Humeyra Pamuk; Editing by Nick Tattersall

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