As yet, life :) is unprofitable

A GSM operator “Belarusian Communications Network” (life:) trademark) lost 13.87 million USD over the last four months of 2008 (September-December).

It is said in the report published by Turkcell owning 80% of the Belarusian operator’s shares.

According to the information, life:) had 231 thousand subscribers at the end of 2008. The operator’s new brand became active in the Belarusian market last December.

The closed company “Belarusian Communications Network” was registered on November 5, 2004. It signed a contract with Turkcell and joined the international group of companies on July 29, 2008. Turkcell paid 300 million dollars for 80% of the shares of “BeST” at the end of August 2008. Additional payments of 100 million dollars will be made on December 31, 2009 and 2010. One more 100 million dollar payment will be made after the “BeST” company makes profit.

The current founders of “Belarusian Communications Network” are Turkcell (80%) and the Belarusian Minsitry of Communication and Informatization (20%).