“They invested $ 1.065 billion in the Turkish Telekom Wealth Fund, and they deliberately and deliberately turned a blind eye to the biggest robbery in the history of the Republic,” said IYI Party leader Meral Akshener. Told. “There is no plan like a block sale. I think the public offering will attract the attention of foreign investors,” said the Turkish Wealth Fund. Talking to Dilek Güngör in Sabah, Ermut made the following statement about giving the company $ 1.6 billion: The concession expiration date is incorrect. No company will be released for free in 2026. There is a concession to end. A concession contract was signed with the Turkish Telecommunications Bureau (November 14, 2005), the company at that time. Under this agreement, for 25 years as of February 28, 2001, we will provide all kinds of telecommunications services, establish the necessary facilities, and use them by other licensed operators to sell and supply telecommunications services. You have the right to do so. The concession contract expires on February 28, 2026. The company reserves the right to apply to BTK and request an extension one year before the contract expires. The company currently has subsidiaries in many areas, a 30% market share on mobile and 52 million customers. Even if the concessions are not extended in the worst case scenario, they remain in the company. It wasn’t clear exactly what was covered because the technology changed when the concessions expired. So what is part of the infrastructure?
The technical infrastructure needs to be reorganized. Now what you call a switchboard has turned into a box. Is the box under a concession or is it the building it’s in? The bank allowed international organizations to sell their shares. If there was a sale there, someone else would want to use this entire infrastructure, and other operators would suffer. Therefore, in order to protect public property, it was necessary to act with public responsibility. The acquisition of TVF will accelerate investment. The Board’s vision and will on this issue has made it possible to take this important step under the chair of the President. In my opinion, the company should be paved without waiting. The extension of the concession is added to both the Treasury and the value of the company.
If we take a step, we are at the right time. In deciding the valuation, we benefited from the valuation survey of international companies and the work done within the framework of our own strategic planning. In the worst-case scenario, the value of the assets we purchase will be much higher than the price we paid, even if the concessions do not continue. The company is already open to the public, with plans to extend concessions and secondary public offerings, with no plans for bulk sales. I think the initial public offering will attract the attention of foreign investors. From the scenario of accelerating investment in two years and adding value to the company, it was a purchase that didn’t bother me at all. If I were a businessman today, when I asked, “Would you like to buy this company for $ 1.6 billion,” I would say “don’t be afraid.” As a public sector, we currently own 86.68 percent of Türk Telekom. The IPO in front of us has a considerable margin. I want to share this value with people. “
TÜRK TELEKOM partnership structure
Türk Telekom was privatized in 2005 and released in 2008. Before TVF acquired 55%, 55% of Türk Telekom’s stake was transferred to LYY (LYY Telekomünikasyon A.Ş.), 25% to the Turkish Ministry of Finance and 5% to the Turkish Wealth Fund. Percentages of shares have been publicly traded. Akbank has the largest share of LYY with 35.5598 percent, followed by Garanti Bank with 22.1265 percent, Ishbank with 11.5972 percent, Yapikredi with 4.9150 percent, Vakufu Bank with 4.2559 percent, Hulk Bank with 3.6562 percent and Deniz Bank with 2.5913 percent. It occupies the share of TSKB. With a 1.6172% share.
Akşener: Türk Telekom’s biggest robbery in the history of the Republic
TVF bought 55% of Türk Telekom for $ 1.65 billion