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General

Turkcell sells 55% stake in betting venture Inteltek to other shareholder Intralot

Wednesday 15 January 2020 | 17:22 CET | News

Turkcell’s subsidiaries Turktell Bilisim Servisleri, Global Bilgi Paz. Dan. ve Cagri Servisi Hizm and Turkcell Satis ve Dijital Is Servisleri signed a binding term sheet to transfer their total shareholding of 55 percent in sports betting company Inteltek including all rights and liabilities to the other shareholder of Inteltek, Intralot Iberia Holding.

The respective transaction is expected to be completed within the first half of 2020 once the final share sale and purchase agreement is signed and necessary legal approvals are obtained. The final value of the transaction will be determined based on IFRS net book value of Inteltek, and no material impact is expected on financial statements, Turkcell said.

Inteltek was established in 2001 and owned by Turktell, a Turkcell affiliate, Intralot and Intralot Iberia Holding, with respective shares of 55 percent, 20 percent and 25 percent. Established with the aim of exploring and using available business opportunities within the gaming sector, the company is the sole operator of sports betting games in Turkey.



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Categories: General
Companies: Turkcell
Countries: Turkey
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