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TÜRK TELEKOMÜNIKASYON ANONIM SIRKETI

(TTKOM)
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Turkey Wealth Fund Considering Acquiring A Majority Stake in Türk Telekomünikasyon

09/30/2021 EST

Turkey Wealth Fund Management Company is considering acquiring a majority stake in the country’s second-biggest telephone company, in a potential deal that would make it the largest shareholder in two of the top telecom operators, according to people with knowledge of the matter. Creditors seized a 55% stake in Türk Telekomünikasyon Anonim Sirketi (IBSE:TTKOM) - TÜRK TELEKOMÜNIKASYON A.S.  almost three years ago after its previous owner defaulted on a multi-billion-dollar loan. The sovereign fund, known by its Turkish initials TVF, has approached the lenders about acquiring the holding, said the people, who asked not to be named because the matter isn’t public.  The two sides differ over the price and the fund has yet to make a formal offer, they said. The group of mainly local banks previously hired Morgan Stanley to advise on finding a strategic buyer. A deal would mark the biggest step yet in the creeping re-nationalization of Turkey’s telecommunications industry after the wealth fund last year took a majority stake in the country’s biggest mobile phone operator, Turkcell Iletisim Hizmetleri AS.


© S&P Capital IQ 2021
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Financials
Sales 2021 33 128 M 2 398 M 2 398 M
Net income 2021 5 656 M 409 M 409 M
Net Debt 2021 14 407 M 1 043 M 1 043 M
P/E ratio 2021 6,47x
Yield 2021 7,36%
Capitalization 36 155 M 2 625 M 2 617 M
EV / Sales 2021 1,53x
EV / Sales 2022 1,34x
Nbr of Employees 34 619
Free-Float 13,3%
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Türk Telekomünikasyon Anonim Sirketi Technical Analysis Chart | TTKOM | TRETTLK00013 | MarketScreener
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 16
Last Close Price 10,33 TRY
Average target price 10,52 TRY
Spread / Average Target 1,87%
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Managers and Directors
Ümit Önal Chief Executive Officer & AGM-Marketing
Kaan Aktan Assistant General Manager-Finance
Ömer Faith Sayan Chairman
Yusuf Kiraç Assistant General Manager-Technology
Eren Öner Manager-IR, Corporate Governance & Compliance
Sector and Competitors