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Cell firm Astelit may need $250 mln from shareholders to offset losses
Journal Staff Report

ISTANBUL, Jan. 15 – Astelit, Ukraine’s No. 3 cell phone company co-owned by Turkcell and Rinat Akhmetov, the wealthiest Ukrainian, may need up to $250 million capital injection from shareholders this year to offset losses.

Astelit, which has been aggressively borrowing in order to expand, has apparently failed to generate sufficient revenue that had led to complains from banks that had lent the money.




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