Vodafone Turkey to pay for tenders won in cash

Vodafone Turkey wants to pay the tender price of 778 million euros it offered in a recent deal for advanced 4G technologies in cash this year, CEO Gökhan Ö?üt said on Aug. 28 as reported by Reuters. 

"As of today, our plan is pay the price in cash. We want to make the payment this year after the council of state gives an approval by using our group's sources," Ö?üt told journalists, speaking at a press meeting to discuss the results of the tender, which was dubbed for 4.5G technologies in Turkey. 

Vodafone submitted the highest bid for the 800 Mhz spectrum band A1 package with 390 million euros, while acquiring the B2 package in 900 Mhz, C3 package in 1800 Mhz, E2 and F2 bands in 2600 Mhz.

Turkey's three existing mobile operators, Turkcell, Vodafone and Avea, have won the rights to the country's advanced 4G network, due to be established for a sum of more than 1.14 billion euros, in the Aug. 26 tender held by the Information and Communication Technologies Authority. The new network will offer consumers the ability to use new technologies, including 5G, providing faster surfing, downloads and uploads, as well as improved calling. The total amount of spectrum available will be increased by three times when the new network goes online. The rights to the frequencies will last until April 30, 2029.

Responding to a question, Ö?üt said the results of the tender is in line with their expectations and plans. 
"We got what we wanted," Ö?üt told journalists, emphasizing that the difference in exchange rates won't affect the financial position of the company.

CEO Ö?üt said the tender is the third largest investment the Vodafone Group has made in the Turkish market after the acquisition of the company and of the rights in 3G...