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Turkish mobile operator Turkcell sells whole 50% stake in A-Tel for EUR 11mn. [IntelliNews - Weekly Reports]
[August 31, 2014]

Turkish mobile operator Turkcell sells whole 50% stake in A-Tel for EUR 11mn. [IntelliNews - Weekly Reports]


(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Turkey's largest mobile operator Turkcell informed in a filing with Bourse Istanbul (BIST) it signed an agreement on August 27 to sell its whole TRY 7mn nominally-valued 50% stake in its pre-paid GSM calling cards retailing subsidiary A-Tel to the other shareholder Bereket Holding for a total consideration of TRY 31mn (EUR 11mn).



Turkcell will record a TRY 24mn net profit from the sale which will be included in its Q3 financials. A-Tel operates with a paid-in capital of TRY 14mn and the appraisal value of the 50% stake in A-Tel was TRY 31mn, the statement detailed.

In a separate filing with the BIST, Turkcell said that its Germany-based mobile virtual network operating subsidiary Turkcell Europe GmbH signed a marketing partnership agreement with a subsidiary of Deutsche Telekom on August 27 which will modify a current wholesale traffic purchase deal to a marketing partnership deal.


Turkcell Europe and Deutsche Telekom signed a marketing partnership deal with Deutsche Telekom's subsidiary in October 2010 and new marketing partnership deal will not have a significant impact on Turkcell's consolidated financials, the statement detailed. Turkcell Europe's subscribers will be transferred to Deutsche Telekom's subsidiary on January 15, 2015, according to the terms of new marketing partnership deal.

In February 2011, Sureyya Ciliv, CEO of Turkcell, told Reuters that Turkcell was open to Deutsche Telekom's taking a stake in Turkcell Europe.

  Turkcell (consolidated) Financials (bn TRY) 2013/H1 2014/H1  (y/y) Revenues 5,5 5,8 4,2% Gross Margin 2,1 2,2 7,7% Operating Income 1,6 1,4 -12,3% Net Income 1,1 0,9 -24,2% Source: PDP           (c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info).

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