Sorin Ilovici, general manager and majority shareholder of the Turbo Photo&GSM store chain is currently in talks with several companies regarding the sale of part of a stake in the company. Officials of Rom Photo& GSM, the company that holds the Turbo brand, say that they have not decided, as yet, whether to sell a majority or a minority block of shares, but that the transaction will take place at some point this year. "The company is negotiating both with local players as well as with foreign companies," Yoel Winkler, Rom Foto&GSM operational manager told Ziarul Financiar. He added, "First of all, we are searching for a strategic investor, that will help us with knowledge and expertise". Turbo Photo&GSM derived revenues worth some 5.5 million dollars (4.25 million euros) excluding VAT last year. Winkler estimates the revenues will amount to 10 million dollars (7.7 million euros) without VAT this year. The sales of mobile phones and prepaid cards accounted for 48% of the company's turnover last year while sales in the photography sector (digital cameras and photo development) accounted for 35% of the turnover. Turbo also sells multimedia players, memory cards and PC accessories. "We started last year with 24 stores and now currently have 50 outlets. Moreover, we plan to open 24-27 more outlets in the following year," stated Winkler. Most of the stores are located within shopping centers, hypermarkets and cash&carry stores.
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