Decent Earnings Not The Real Story At Turkcell
- Turkcell's earnings were a little complicated, with forced rate cuts pressuring revenue and fines hitting income, but better than expected underlying profitability.
- An announcement from the U.K. Privy Council suggests that Cukurova has raised the money it needed and it has reached an accord with Altimo to repay its debt.
- If the Cukurova-Altimo affair is finally over, significant dividends could be on the way, but the shares have already reacted pretty favorably and it may be time to take profits.