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• Turkcell Invest $1.5 Billion in Network Infrastructure in 2010

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  Rabia Rahimbayeva    Group moderator   Ambassador

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  Turkcell Invest $1.5 Billion in Network Infrastructure in 2010

  Turkiye’s leading mobile services provider Turkcell reported earnings results for the first quarter of 2010. For the period, the company reported net profit of TRY 417.6 million ($268 million), down 25.8% year-on-year. Revenues reached TRY 2.25 billion, up 7% year on year. Earnings before interest tax depreciation and amortisation (EBITDA) was TRY 711 million, down 8.1%.
  
  The company announced it will invest up to TRY 2.4 billion ($1.5 billion) on network infrastructure and 3G services. The operator is planning to allocate $650 million on infrastructure, $340 million to Superonline, and $400 million to its international operations.
  
  Turkcell’s CEO Sureyya Ciliv said they intend to increase the number of countries in which Turkcell operates and that they are currently assessing Kuwaiti mobile operator Zain. (Turkcell currently operates in eight countries)
  
  Ciliv said, “Zain is one of the companies our international development group is looking at, but at the moment there is no important development.” He further added, “We're looking at the numbers and doing preliminary work on whether it's suitable for Turkcell.” According to al-Qabas, a Bahraini investment bank may manage Zain’s transaction for Turkcell. However, it did not reveal the source of the information or the name of the investment bank. The newspaper also reported that Turkcell might offer $5.20 a share for the Zain stake. Another newspaper, al-Rai reported that at least four parties have offered to buy majority stake in Zain. It also stated, “The major shareholders in Zain have received verbal offers from four parties for the possibility to enter negotiations to buy a majority stake in the company.” According to al-Rai, the shareholders would not want to begin negotiations for selling a stake in the group until the Bharti transaction is completed.
  
  
  Source: Bloomberg Businessweek
  
  • 18 May 2010, 1:59 pm
  Rabia Rahimbayeva wrote: > Turkiye’s leading mobile services provider Turkcell reported earnings > results for the first quarter of 2010. For the period, the company > reported net profit of TRY 417.6 million ($268 million), down 25.8% > year-on-year. Revenues reached TRY 2.25 billion, up 7% year on year. > Earnings before interest tax depreciation and amortisation (EBITDA) > was TRY 711 million, down 8.1%. > > The company announced it will invest up to TRY 2.4 billion ($1.5 > billion) on network infrastructure and 3G services. The operator is > planning to allocate $650 million on infrastructure, $340 million to > Superonline, and $400 million to its international operations. > > Turkcell’s CEO Sureyya Ciliv said they intend to increase the number > of countries in which Turkcell operates and that they are currently > assessing Kuwaiti mobile operator Zain. (Turkcell currently operates > in eight countries) > > Ciliv said, “Zain is one of the companies our international > development group is looking at, but at the moment there is no > important development.” He further added, “We're looking at the > numbers and doing preliminary work on whether it's suitable for > Turkcell.” According to al-Qabas, a Bahraini investment bank may > manage Zain’s transaction for Turkcell. However, it did not reveal > the source of the information or the name of the investment bank. The > newspaper also reported that Turkcell might offer $5.20 a share for > the Zain stake. Another newspaper, al-Rai reported that at least four > parties have offered to buy majority stake in Zain. It also stated, > “The major shareholders in Zain have received verbal offers from four > parties for the possibility to enter negotiations to buy a majority > stake in the company.” According to al-Rai, the shareholders would > not want to begin negotiations for selling a stake in the group until > the Bharti transaction is completed. > > > Source: Bloomberg Businessweek