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Turkcell to merge its subsidiaries Turktell Bilisim and Fizy. [IntelliNews - Weekly Reports](IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Turkcell, Turkey's largest mobile operator, announced on Wednesday that its Board of Directors took a decision to perform the required underlying work in order to merge Turkcell's affiliate Turktell Bilisim Servisleri (Turktell Bilisim) with another affiliate Fizy Iletisim (Fizy). Fizy will be entirely acquired by Turktell Bilisim, Turkcell said in a filing with the Stock Exchange. The underlying aim for the decision is to simplify the group structure, increase efficiency and reduce operational costs, Turkcell explained. 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). |