Türkiye Wealth Fund Becomes Turkcell's Largest Shareholder

One of the most popular telecommunication companies in our country TurkcellA significant amount of shares were sold to the Türkiye Wealth Fund. Shares of Telia, Turkcell's largest partner to date, have been purchased for $530 million. Türkiye Wealth FundAccording to the statements of , the agreement has been completed and signatures have been made.

According to the statements made by the Türkiye Wealth Fund, Turkcell shares 26.2 percentwas purchased. This reveals that from now on, Turkcell's largest partner will be the Türkiye Wealth Fund. In addition, some of Turkcell's partners are completely transferred from the company. is being withdrawn. In the new process that started for Turkcell, Türkiye Wealth Fund will be able to determine 5 of the 9 members on the company's board of directors.

One of Turkcell's partners was Çukurova Holding. The company is owned by Ziraat Bank, which is owned by the Türkiye Wealth Fund. $1.6 billion Turkcell shares were used as collateral for the loan debt. With the agreement made Çukurova Holding, withdraws from Turkcell by transferring its shares to the wealth fund. In addition, Turkcell's largest partner, Telia, also withdrew from Turkcell after the share sale. Another partner of Turkcell, LetterOne, increased its shares slightly and became the largest minority partner.

According to the statements of the Türkiye Wealth Fund, share sales and all other transactions will end this year and the new process will begin. expected. In addition, after the completion of the share sale transactions, Turkcell's on the board It is possible that there will be some changes. Time will tell how Turkcell's board of directors, which has been the subject of various discussions in the past, will be shaped.