Alfa bids USD 2.8 bln to raise stake in Turkcell

News Wireless Turkey 17 MRT 2015
Alfa bids USD 2.8 bln to raise stake in Turkcell
Russia's Alfa Telecom offered USD 2.8 billion to buy back a 13.76 percent stake of Turkcell, Reuters reports. The deal would double its holding in Turkey's top mobile operator after a seven-year battle for control of the company. Alfa Telecom said in a statement that it offered USD 54.9 million per share for 51 of Turkcell's class-B shares held with Turkey's state-run Ziraat Bank as collateral for a loan. 

Alfa has been locked in a battle with one of Turkcell's founder's, Mehmet Emin Karamehmet, for control of the mobile operator. Last year, a company controlled by Karamehmet, Cukurova Holding, paid Alfa USD 1.6 billion for the stake in Turkcell, financing its offer through a loan from Ziraat. Now, Alfa has offered to buy that back at a substantial premium. Turkcell is 51 percent owned by another holding company, Turkcell Holding. Alfa holds a 13.22 percent stake in Turkcell through ownership in that unit.


Categories:

Mobile

Companies:

Turkcell,  Alfa

Countries:

Turkey

Tags:

M&A buyouts & divestments

Related Articles

TURKEY 28 MRT 2016

Alfa Telecom ready to sell Turkcell stake for USD 2.7 bln

Russia's Alfa Telecom said it was prepared to sell a 13.22 percent indirect stake in Turkcell to Turkey's Cukurova and Ziraat Bank for a total of around USD 2.7 billion, writes Turkish publication Hurriyet Daily News citing a statement to the Istanbul stock exchange. Alfa, owned by Russian billionaire Mikhail Fridman, has been locked in a legal battle for almost a decade with equity partner Cukurova, run by Turkcell's founder Mehmet Emin Karamehmet. On 25 March, Alfa said it was willing to sell 49 class-A s

TURKEY 27 MRT 2015

Turkcell names Terzioglu as Turkcell CEO

Turkcell board of directors appointed Kaan Terzioglu as Turkcell CEO, effective from 1 April. Terzioglu was appointed as a member of the board of directors at Akbank in 2012. He is also a member of the board of directors at Aksigorta, Teknosa Ic ve Dis Ticaret and Carrefour. 

TURKEY 17 FEB 2015

Turkcell revenues up 8% to TRY 3.1 bln in Q4

Turkcell saw its Group revenues grow by 8 percent to TRY 3.103 billion  with the higher contribution of mobile broadband and fiber broadband revenues. Group EBITDA rose 8 percent to TRY 917 million with an EBITDA margin of 29.6 percent compared to 29.5 percent a year ago. Net income fell by 49 percent to TRY 258 million. Mobile business revenues in Turkey reached TRY 2.392 billion on 7 percent growth, while the EBITDA margin rose to 30.1 percent from 29.9 percent. Mobile broadband revenues rose by 44 percen

TURKEY 4 FEB 2015

Turkcell, Telekom Austria partner on data traffic

Turkcell's fully-owned subsidiary Turkcell Superonline partnered with Telekom Austria to deploy an MPLS PoP in Istanbul. Turkcell Superonline's data centres and infrastructure began to host Telekom Austria Group's MPLS PoP in January. The interconnection that will connect this MPLS PoP and the servers to the rest of the world has been established, and will support an 8 Tbps capacity in total with 100 Gbps technology.

TURKEY 29 DEC 2014

Turkcell announces completion of two mergers 

Turkish operator Turkcell announced new mergers which have been completed and registered to trade registry. The first is the merger of its affiliate Superonline Iletisim Hizmetleri with another affiliate of the company, Talih Kusu Altyapi Hizmetleri by Talih Kusu being entirely acquired by Turkcell Superonline. The second is the merger of its affiliate Turktell Bilisim Servisleri (Turktell Bilisim) with another affiliate of the company, Fizy Iletisim (Fizy) by Fizy being entirely acquired by Turktell Bilisi

TURKEY 15 DEC 2014

Turkcell CEO Ciliv elected to GSMA board

Turkcell CEO Sureyya Ciliv was recently elected to be a member of the board for the GSMA. With this election, Turkcell becomes the only operator from Turkey to serve on the GSMA Board during the 2015-2016 term. GSMA Board consists of 26 members, including Anne Bouverot, the director general of GSMA, and representatives of 25 mobile operators from around the world. 

TURKEY 22 OKT 2014

Turkcell merges Turktell Bilisim, Fizy subsidiaries

Turkcell's board of directors took the decision to perform the required underlying work in order to merge its affiliate Turktell Bilisim Servisleri (Turktell Bilisim) with another affiliate of itself, Fizy Iletisim (Fizy) by Fizy being entirely acquired by Turktell Bilisim. The underlying aim for the decision is to simplify the group structure, increase efficiency and reduce operational costs.

IRAN (ISLAMIC REPUBLIC OF) 17 OKT 2014

Turkcell mulls options as Iranian tribunal throws out case

Turkish operator Turkcell is assessing possible legal options against a Iranian tribunal's decision that it has no jurisdiction to approve Turkcell's claims that that the licence it had won in Iran was awarded to another company by the Islamic Republic of Iran in an unlawful way. Turkcell had filed an ad hoc arbitration on 11 January 2008. Turkcell was awarded the GSM licence following the tender initiated to operate a GSM network in Iran.

TURKEY 17 OKT 2014

Turkcell asks for approval of merger with Turktell

Turkish operator Turkcell applied on 16 October to the Capital Markets Board of Turkey (CMB) for the approval of its merger with its 100 percent owned subsidiary Turktell Uluslararasi Yatirim Holding through the 'Facilitated merger' method which it announced on 24 September. The aim of the merger is to simplify the group structure, increase efficiency and reduce operational costs. 

Just In

20 DEC 15:08

Dialog Axiata to offer Starlink satellite service across Sri Lanka

20 DEC 14:51

Sri Lanka raises LKR 10 billion in 5G spectrum auction

20 DEC 14:00

Vi introduces Niyo Zero Forex Markup Card for travelers

20 DEC 13:39

True reshuffles executive team

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.