Turkcell Guarantees Loan for Ukraine GSM Expansion

Turkish telco, Turkcell says that it is to guarantee a US$75 million loan being signed by its Dutch subsidiary, Financell to fund network expansion by Astelit – a mobile network in Ukraine. The financing will be used for the products and services that will be purchased from Ericsson AB and Ericsson Ukraine for Astelit LLC’s 2G infrastructure investments.

Ukrainian IT market hit by crisis

The consulting company IDC has said that the Ukrainian IT market failed to achieve the planned 30% growth due to the financial crisis. Instead it grew 7% in 2008 up to 3.8 billion dollars.