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Turkcell down 5.3%; launches Ukraine 3G

  • Along with Turkey's stock market tumble today following election upheaval, Turkcell (NYSE:TKC) is off 5.3% in early NYSE trading.
  • The company today is announcing its Astelit unit became the first GSM operator to successfully launch 3G service in the Ukraine.
  • It's a quick move after Turkcell won a 3G license in February's tender -- it had planned to launch six months after acquiring the rights -- and should pay benefits as Astelit is the country's leader in smartphone penetration, with 36% of users on smartphones.
  • Meanwhile, new CEO Kaan Terzioglu has been pushing Turkey's government to upgrade infrastructure to pave the way for a successful 4G rollout later this year. A 4G auction is set for Aug. 26, though president Erdogan had been urging the country to skip 4G (and cancel that auction) and head straight to 5G.

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