The Chennai-based communication services firm Dhanus Technologies is in advanced talks to buy the telecom unit of Turkey's Boursan Holdings, a local newspaper reported.

S. Muthukrishnan, Vice Chairman, Dhanus Technologies said, "We are scouting for acquisitions in the European market. Talks are on with various firms. We cannot comment on individual deals."

Sources said, the acquisition, if it happens, will be a leveraged buyout with ICICI Bank being the lead lender.

India-based, Dhanus Technologies offers telecommunication services and unified messaging and enhanced logistics services. It also has a BPO operation of telemarketing services to the US, UK and Australia markets.

Boursan Holding is one of Turkey's major industry and service groups. Currently, the firm is active in four primary business areas of steel, distributorship, logistics and telecommunications.

At 12:33 pm, Dhanus Technologies was quoting at Rs 365 on NSE, up by Rs 18.80, or 5.43%. It has touched an intraday high of Rs 368.90 and an intraday low of Rs 350.

It was trading with volumes of 212,406 shares. Yesterday, the share closed up 2.98% or Rs 10.05 at Rs 347.40.