Russia’s VTB Group, Alfa Group agree to invest in Turkcell

MOSCOW, Nov 7 (PRIME) -- Russia’s VTB Group and Alfa Group have agreed to invest in Turkish telecom company Turkcell, as Alfa Group could raise its share in the asset, VTB Group said Monday in a statement.

Involvement of the VTB Group means its intention to diversify its investment and loan portfolios.

The deal could raise foreign-exchange incomes of Turkcell and benefit its investment attractiveness in the future, VTB Group said.

Besides, investment in Turkcell will become a new stage in the development of business ties between Russia and Turkey.

Turkcell is Turkey’s biggest telecom operator, which also works in Belarus, Germany, Northern Cyprus, Ukraine and other countries.

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