Telecom Italia not to increase its stake in the consortium that won a bid to privatise Turk Telecom.

The Italian telecom group Telecom Italia (TI) will not increase its stake in the consortium that won a bid to privatise Turkish operator Turk Telecom. TI will maintain its current stake in Turk’s mobile telephony operations, and use the value of the stake to promote fixed and mobile integration. The consortium, headed by Saudi Arabia’s Oger Telecom, acquired 55 per cent of Turk Telekom for $6.55 billion.