Research

7/6/2018

The Shareholding Structure of Türk Telekomünikasyon A.Ş. Is Changed

Akbank, Garanti Bankası and Türkiye İş Bankası establish a joint venture to take over all shares of Ojer Telekomunikasyon A.Ş. in Türk Telekomunikasyon A.Ş...

Akbank, Garanti Bankası and Türkiye İş Bankası has applied to the Competition Authority to take over all shares of Ojer Telekomunikasyon A.Ş. in Türk Telekomunikasyon A.Ş. through a joint venture that they established. Ojer Telekomunikasyon A.Ş. holds 55 percent of the shares of Türk Telekomunikasyon A.Ş. By this transaction, Ojer Telekomunikasyon A.Ş. will transfer all of its shares in Türk Telekomunikasyon A.Ş.

While Oger Telekomünikasyon A.Ş. holds 55% of the shares of Türk Telekomünikasyon A.Ş. the Undersecretariat of Treasury holds 25%, and Turkish Sovereign Wealth Fund holds 5% of the shares. The remaining 15% was offered to the public.

If the Competition Authority approves the transfer, the sale will go through.