ISTANBUL, Turkey-Turkcell said it entered the Ukrainian mobile market by establishing a new company with the current shareholders of Digital Cellular Communication, which holds a GSM 1800 MHz license in Ukraine. Through Turktell, a wholly owned subsidiary of Turkcell, the Turkish company will contribute $50 million and acquire a 51-percent stake in the new company.
Turkcell said because of Ukraine’s strong economic development prospects and low mobile penetration of 10 percent, it offers significant growth potential. There are currently five mobile operators in the Ukraine, and DCC had about 80,000 subscribers at the end of September.
