March 20, 2012 / 6:37 AM / 5 years ago

Turk Telekom says signs $602 mln loan deal

ISTANBUL, March 20 (Reuters) - Turkey's telecommunications company Turk Telekom said on Tuesday it signed a three-year loan deal for $602 million from 13 banks.

The company did not say what the loan would be used for in a statement to the Istanbul Stock Exchange.

Last month the telecommunications company said its net profit in 2011 fell by 16 percent to 2.07 billion lira ($1.17 billion) from a year earlier, less than a Reuters poll forecast of 2.1 billion lira. (Reporting by Seda Sezer; Editing by Mike Nesbit)

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