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  • 24-10-20

    Turkcell becomes stronger

    (MENAFN) Turkey's famous cell-phone operator Turkcell released that as of now, they are a vital asset in Turkiye Wealth Fund's portfolio after a business deal that was finalized on Thursday, October 22nd.

    The release included that the company has agreed on allowing the Turkiye Wealth Fund to be the dominant shareholder of the firm, during Turkcell's annual general assembly meeting that took place on Wednesday, October 21st.

    The deal has simplified the shareholding arrangement of Turkcell as the fund has a 26.2 percent stake, 15 percent of which are privileged shares.

    CEO of the fund, Zafer Sonmez, declared: "We have successfully completed a transaction that we have been working on day and night in a transparent fashion for the last 1.5 years."

    Sonmez highlighted that the fund will make it easier for management to add to Turkcell's future as an efficient and performance-driven digital operator directed by firm corporate governance values.

    MENAFN2410202000450000ID1101009836

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