Turkcell Iletisim Hizmetleri AS (NYSE:TKC) American depository shares were slightly lower on Monday after Reuters cited Russia’s Alfa Telecom as saying it is ready to sell a 13.22% indirect stake in the company to Turkey’s Cukurova and Ziraat Bank for around $2.7 billion. Citing a statement made to the Istanbul bourse, Reuters reported that Alfa is willing to sell 49 class A shares for $54.9 million per share. TKC trades around the mid-point of the 52-week range between $7.71 and $13.16.
The stock is down 0.10% or $0.01 after the news, hitting $10.36 per share. About 117,734 shares traded hands. Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC) has risen 2.17% since August 19, 2015 and is uptrending. It has outperformed by 4.27% the S&P500.
Turkcell Iletisim Hizmetleri A.S. provides mobile telecommunication services for consumer, corporate, and wholesale customers. The company operates in two segments, Turkcell Turkey and Turkcell International. It offers mobile communication and fixed voice services; and broadband services that consist of mobile broadband, fiber to the home/building, and ADSL. The company also provides Turkcell App, an application store for users to download mobile applications; Turkcell TV+, which enables its subscribers to watch live television channels and on-demand video content on their mobile devices and through IPTV platform; Turkcell Music, a digital music platform to stream and download music; Goals on Your Mobile, a sports application for soccer clubsÂ’ fans; a range of cloud solutions; and Mobile Finance Business payment solutions.
In addition, it offers Real-time Enterprise solutions; Super Esnaf, a location-based application, which provides the geographic information of small business owners; Turkcell Smart Enablers, a mobile-based network that offers companies to know their customers; Turkcell Smart Map service; location based services; Turkcell Smart Education, an education platform; Mobile Signature, which enables mobile subscribers to sign on electronic documents and transactions; collocation, infrastructure, backup, and security services; Machine to Machine platform to manage devices; mobile marketing services; and Turkcell Partner Network, a business ecosystem. Further, the company provides international roaming, and wholesale voice and data services. As of December 31, 2015, it had approximately 17.4 million prepaid subscribers and 16.6 million postpaid subscribers; and approximately 1.5 million fixed line customers. The company covers 2.4 million homes with its fiber infrastructure. The company was founded in 1993 and is headquartered in Istanbul, Turkey. Turkcell Iletisim Hizmetleri A.S. is a subsidiary of Turkcell Holding A.S.
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