- Turkcell (TKC +0.2%) is gathering companies for a joint venture to pursue more efficient investment in Turkey's fixed broadband infrastructure.
- Its Turkcell Superonline unit plans to join with Vodafone Turkey (NASDAQ:VOD), TurkSAT and members of the country's Telecommunication Operators Association in order to increase fixed broadband penetration, in part through removing redundancy in building infrastructure.
- "The alliance members constitute 55% of the Turkish telecommunications industry’s revenue," says Turkcell CEO Kaan Terzioglu. "Our objective is to make sure that 21 million more households in Turkey reach a viable [fiber-to-the-home] solution." He says Turkey could save up to $12.6B if companies invest via the JV rather than separately.
- Previously: Turkcell Iletisim reports Q2 results (Jul. 27 2016)
-
Updated 5:45 p.m.: TKC is off 8.4% after hours.