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Russian billionaire to invest in Turkey

Russian billionaire Mikhail Fridman's Alfa Group will soon invest more in Turkey, the chief executive of Alfa's telecoms has commented.

Alexey Reznikovich told reporters that the world would ‘soon see Alfa Group more in the Turkish market’ adding that in his view ‘real-estate, retail, infrastructure and banking are interesting areas in Turkey’.

Mustafa Koc, president of Turkey's Koc Holding which has put its retail business Migros up for sale, commented earlier this month that Alfa group, who have shareholder conflicts with its partners in Russia, Turkey and Ukraine — was one of the parties interested in a deal.

Reznikovich is interested in Turkcell, Turkey's top mobile operator. With nearly 34 million users, it has the capacity to reach a market value of $30 billion in five years, almost double current value.

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