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).
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.
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."
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)
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)
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)
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).
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%)
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.
Thu, Feb. 12, 2:19 PM
- In its Q4 results, Turkcell (TKC +0.5%) noted revenue gains of 8% on the back of mobile broadband and fiber broadband sales, though net income was pounded by currency devaluation in Ukraine/Belarus, leading to a 49% decline.
- Group revenues were TRY3.1B ($1.26B). Group EBITDA was up 8% to TRY917M ($317.3M, vs. an expected $394.4M).
- Mobile business revenues grew 7% to TRY2.39B ($968M), while mobile broadband revenues reached their year's peak, growing 44% to TRY567M ($229.6M).
- The company guides for 2015 revenues in the range of TRY 12.8B-TRY 13.1B ($5.18B-$5.3B, slightly below consensus of $5.52B) and consolidated EBITDA of TRY 3.85B-TRY 4.05B ($1.56B-$1.64B, vs. expected $1.619B).
- Press release
Thu, Feb. 12, 2:00 PM
Tue, Feb. 3, 10:57 AM
- Through its subsidiary Turkcell Superonline, Turkcell (NYSE:TKC) is partnering with Telekom Austria (OTCPK:TKAGY) on regional interconnection that should boost corporate offerings.
- While Turkey's leading mobile service provider, Turkcell has seen gains in its fixed-line broadband business, and was first to offer fiber-to-the-home in the country.
- "With this agreement, Telekom Austria Group becomes accessible to our customers in Turkey, while Turkey joins Telekom Austria Group’s strong global network," says Turkcell deputy GM Emre Erdem.
- Telekom Austria serves around 23M customers in Central and Eastern Europe.
Mon, Feb. 2, 11:30 AM
- With the ruble gaining a bit of strength against the dollar (trading back around 68.8), telecoms with exposure to the currency are rising again.
- VimpelCom (NASDAQ:VIP) is having a field day, up 11.9%; Mobile TeleSystems (NYSE:MBT) up 5.2%; MiMES Rostelekom (OTCQX:ROSYY) up a bit at +0.3%; Turkcell (NYSE:TKC) up 1.7%.
- News of VimpelCom wrapping a $2.6B sale of its interest in Djezzy is still making the rounds. The firm was downgraded by Deutsche Bank on Thursday.
Fri, Jan. 30, 12:43 PM
- Today's Russian interest rate cut has taken its toll on the long-suffering ruble -- and therefore on ruble-related telecom firms.
- The ruble's made up a bit of ground from earlier, now at 70.12 vs. the dollar.
- Mobile TeleSystems (NYSE:MBT) is down 2.8%; MiMES Rostelekom (OTCQX:ROSYY) down 4.2%; Turkcell (NYSE:TKC) down 1.8%.
- The interest-rate cut to 15% today followed a hike to 17% last month and points to more volatility ahead for the currency and for firms in ruble-related markets.
- Previously: Russia central bank cuts key rate (Jan. 30 2015)
Wed, Jan. 28, 2:04 PM
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