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Turkcell Iletisim Hizmetleri A.S. (TKC)

- NYSE
  • Wed, Aug. 26, 3:36 PM
    • Turkey's once-postponed auction of 4G airwaves did better than expected, drawing €3.96B (about $4.5B) in bids from Turkey's three operators: Vodafone (VOD +2.5%), Turkcell (TKC +4.6%) and Avea (OTC:TRKNY).
    • The original tender had been postponed in May as president Recep Tayyip Erdogan pressed for a cancellation, and for the country to skip a generation and try to upgrade infrastructure to 5G. But that technology isn't fully defined yet, and any commercial rollouts aren't likely before 2020.
    • The auction performed well in a market that features a young, data-hungry population, says analyst Jonathan Friedman: "Beyond recent political instability, Turkey is a large market with nearly 80 million consumers, and investors want to be a part of that."
    • The bids received today are subject to a final approval process before frequencies are allocated.
    | 2 Comments
  • Fri, Aug. 21, 12:54 PM
    • Vodafone (VOD -2.8%) has pulled out of a six-company competition to take over Lebanon's two mobile operators.
    • The government's two mobile firms, Touch and Alfa, were being run by Zain and Orascom Telecom Media and Technology, though the two companies' management contracts expired two years ago.
    • Vodafone's pulling out leaves five others competing: Zain, Orange (ORAN -0.2%), Maxis, Turkcell (TKC -1.9%) and a unit of Deutsche Telekom (OTCQX:DTEGY), as OTMT didn't submit a bid application on time.
    | 1 Comment
  • Tue, Jul. 7, 10:18 PM
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  • Mon, Jun. 29, 12:02 PM
    • Turkcell (TKC -2.7%) has wrapped a buyout of the rest of its Ukrainian unit, Astelit.
    • The company's paid $100M to buy out partner System Capital Management, who held 45% of Astelit through its Netherlands venture partner Euroasia Telecommunications Holding. Astelite operates in Ukraine under the brand "Life:)."
    • Turkcell is also settling Astelit's debts with SCM and guaranteeing up to $66M in credit.
    • It marks Turkcell's first major move across borders, and the company says it will use Ukraine as a pilot for further regional expansion.
    • Previously: Turkcell in talks to buy out Ukrainian partners (Jun. 19 2015)
    • Previously: Turkcell down 5.3%; launches Ukraine 3G (Jun. 08 2015)
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  • Fri, Jun. 19, 12:38 PM
    • Turkcell Iletisim Hizmetleri (TKC +0.5%) has begun talks to buy the 45% it doesn't hold of Astelit, its Ukrainian unit.
    • Turkcell would buy out partner System Capital Management, which holds the stake in Astelit through Euroasia Telecommunications Holding, the companies' Netherlands-based venture partner.
    • Astelit won a right to offer 3G service in Ukraine in February and the company launched service earlier this month.
    • The move is good strategy considering the 3G service, says RBC's Sam Dhillon. Astelit hasn't posted a profit yet, so the point to the buyout could be increasing execution.
    • But it could signal more cross-border outreach, he said: "In our view, a clear opportunity would be to acquire the ~75% stake it doesn’t own in Fintur, which would give them controlling presence in Kazakhstan, Georgia, Moldova and Azerbaijan." That Fintur stake is currently owned by TeliaSonera (OTCPK:TLSNY).
    • Previously: Turkcell down 5.3%; launches Ukraine 3G (Jun. 08 2015)
    • Previously: Turkcell unit wins 3G spectrum in Ukraine (Feb. 23 2015)
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  • Mon, Jun. 8, 10:47 AM
    • 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.
    | 1 Comment
  • Thu, Apr. 30, 1:08 AM
    • Turkcell Iletisim (NYSE:TKC): Q1 EPS of TRY141.1M
    • Revenue of TRY2.98B (+4.2% Y/Y)
    • Press Release
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  • Mon, Apr. 6, 5:15 AM
    • Russian billionaire Mikhail Fridman and his partners are creating a $16B fund to invest in tech and telecom companies in the U.S. and Europe. LetterOne Technology plans to buy struggling telecom companies that require fresh capital, or technology companies that make apps or streaming services that could be used by its global mobile operations.
    • The fund will also act as a holding company for the group's 48% stake in VimpelCom (NASDAQ:VIP) and 13% stake in Turkcell (NYSE:TKC).
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  • Tue, Mar. 17, 9:48 AM
    • Turkcell Iletisim Hizmetleri (NYSE:TKC) is up 2.3% as Russian conglomerate Alfa Group has launched a dramatic $2.8B offer to effectively take control of Turkey's top telecom -- though success is far from likely.
    • Alfa has offered $54.9M/share for the 13.8% owned by Cukurova Holding -- along with Alfa and TeliaSonera, one of the three key shareholders of Turkcell. Alfa owned that same stake just last year.
    • But Cukurova would have to accept the bid, and a Turkish government reluctant over Russian takeovers in Turkey would have to approve.
    • Turkcell is set to hold its first shareholder meeting since 2011; if the meeting doesn't come off, Turkey's capital markets watchdog can seize control of the executive committee.
    | 1 Comment
  • Tue, Mar. 10, 9:56 AM
    • Russian and ruble-affected telecoms are off again as the ruble's down another 1.7% against the dollar today: VimpelCom (NASDAQ:VIP) is down 5.8%; Mobile TeleSystems (NYSE:MBT) down 4%; Turkcell (NYSE:TKC) down 2.1%.
    • After hitting a low on Feb. 1, the ruble has regained some ground against the dollar, set back some by the past couple of days.
    • A report in Zimbabwe's The Herald paper says that Telecel -- 60% owned by VimpelCom and up for sale -- is worth only $50M rather than the $200M valuation that sale runner Barclays has assigned to it, calling the firm "practically bankrupt."
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  • Wed, Mar. 4, 3:01 PM
    • A record low for Turkey's lira against the dollar is driving the country's market lower -- and the currency's performance tends to hit wireless provider Turkcell (TKC -2.4%).
    • The Turkish lira would be the world's worst performer in emerging markets, except for the Brazilian real.
    • Conflict continues between the country's central bank and the government of President Recep Tayyip Erdogan, who's accused the bank of treason for resisting rate cuts.
    • Meanwhile, with the announcement of 4G tender specifications by the government, Turkcell says it's ready to launch 4G service in country "at the earliest possible time." The tender is expected by the end of May; "Had the government held the tender tomorrow, we would have been ready for it," says acting CEO Ilker Kuruoz.
    • Related stocks: (OTCPK:OGZPY -2.3%), (OTCQX:TKGBY -4.3%), (OTCPK:TAVHY -1.9%). ETF: (TUR -4.1%)
    • Previously: Turkcell follows Turkish trades lower (Feb. 27 2015)
    • Previously: Turkey tumbles as government takes over Bank Asya (Feb. 04 2015)
    | 4 Comments
  • Fri, Feb. 27, 2:03 PM
    • Turkish mobile leader Turkcell (TKC -2.1%) is lower today, along with other Turkish trades, as Société Générale bails out of the country: "We just closed all our bullish trades on Turkey."
    • The firm expects the Turkish lira to sell off in the aftermath of the central bank's rate cut -- and its dispute with Turkey's leadership over monetary policy.
    • SocGen has taken out a long position in dollar/lira volatility that it says is already paying off.
    • The Turkish lira has slipped 3% against the dollar over the past week.
    • Related stocks: (OTCQX:TKGBY -3.4%), (OTCPK:TAVHY -2.3%)
    • ETFs: TUR -2%.
    • Previously: Turkey tumbles as government takes over Bank Asya (Feb. 04 2015)
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  • Tue, Feb. 24, 10:50 AM
    • Units that are part of Russian mobile firms VimpelCom (NASDAQ:VIP) and Mobile TeleSystems (NYSE:MBT) have joined Turkcell (NYSE:TKC) in winning 3G licenses in Ukraine.
    • The Russian firms protected some market position despite a signal from Ukraine that it would favor non-Russian firms in an effort to break up their dominance. VimpelCom's Kyivstar is the biggest carrier in the country, with 42% share.
    • The companies praised the transparency of the auction process.
    • In current trading: MBT +3.5%; VIP -1%; TKC -0.4%.
    • Previously: Turkcell unit wins 3G spectrum in Ukraine (Feb. 23 2015)
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  • Mon, Feb. 23, 4:29 PM
    • Turkcell (NYSE:TKC) unit Astelit comes away from a 3G spectrum auction in Kiev with the right to offer 3G services in Ukraine.
    • The division paid 3.36B Ukrainian Hryvnia (about $118.4M) for Lot 1 of spectrum, and intends to launch 3G service in country six months after license acquisition.
    • Turkcell owns 55% of the brand that serves 10.3M subscribers in Ukraine as of the end of 2014 -- and which is well positioned to take advantage of 3G as the country's leader in smartphone penetration (36% of customers are smartphone users).
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  • Tue, Feb. 17, 6:49 PM
    • Goldman Sachs upgraded Turkish telecom Turkcell Iletisim Hizmetleri (NYSE:TKC) to Buy, from its previous rating of Neutral.
    • Its move (along with Citi's price target hike) is a rare bit of analyst sunshine after shares faced downgrades the past few months.
    • The stock continues to be responsive to ruble moves; today shares were down 1.7% despite Goldman's upgrade, as today the ruble slipped to 63.41/dollar.
    • The company cited currency losses from its operations in Ukraine and Belarus in explaining net income that dropped by half.
    • Other ruble-related telecoms: (VIP -2.6%), (MBT -2.7%)
    | Comment!
  • Tue, Feb. 17, 10:02 AM
    • Talks are gaining steam between Hutchison Whampoa and VimpelCom (NASDAQ:VIP) to merge their Italian wireless operations.
    • There's no deal yet but a source says Hutchison's smaller 3 Italia (No. 4 of four competitors) would buy Wind Telecomunicazioni, VimpelCom's unit, in order to challenge market leader Telecom Italia (NYSE:TI).
    • Il Giornale says managers for the two firms were meeting in London and a deal could be announced as soon as today.
    • VIP currently -6.3%; MBT -3.4%, TKC -1.7% as the ruble sits at 63.14/dollar.
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Company Description
Turkcell Iletisim Hizmetleri AS is a mobile service provider in Turkey. The Company provides mobile voice, internet & services over its mobile communications network.
Sector: Technology
Country: Turkey