Telecommunications equipment manufacturer Alcatel Teletas Telekomunikasyon Endustri, the Istanbul-based arm of Alcatel NV will resume production in August, according to Reuters: it was allowed by a court order to stop in May to reorganise its debt, after the state phone company stopped payment on its $180m; the resumption comes after Citibank extended a $165m loan to the PTT to help it pay the money it owes Teletas, with the balance to be paid later; Teletas will reduce its workforce to 850 from the current 1,145 when it restarts on August 1; the Turkish phone system is being privatised but Alcatel will not do anything to hurt the PTT, Teletas’s biggest customer.
