"Alfa Group eyeing Turkish cinema market
RBC, 26.06.2007, Moscow 10:12:42.Alfa Group's investment unit, A1, has signed a preliminary agreement to buy almost 52% in Turkey's major cinema operator AFM Uluslararasi Film Produksiyon, RBC Daily wrote today. It is generally believed on the market that the acquisition will boost the capitalization of the Russian Kronverk Cinema owned by A1. Kronverk Cinema is contemplating an IPO before 2008. However, this agreement was a surprise, as market participants believe it would have been more natural for A1 to take over Russian operators and consolidate the company's position in Russia. General Director of Cinema Park Sergei Kitin says the Turkish chain may be followed by other foreign acquisitions."
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