Turk Telekom has made a non-binding offer to take full control of mobile operator Avea.
The incumbent, which currently owns 90% of Avea, stated that the remaining 10% of shares it aims to acquire have a total nominal value of TRY820.29m…
Turk Telekom has made a non-binding offer to take full control of mobile operator Avea.
The incumbent, which currently owns 90% of Avea, stated that the remaining 10% of shares it aims to acquire have a total nominal value of TRY820.29m (US$305.34m).
At present, they are owned by Isbank, Sisecam, Trakya Yatrm Holding, Anadolu Hayat Emeklilik, Efes Holding and Anadolu Anonim Turk Sigorta.
Turk Telekom today reported consolidated revenues of TRY3.4bn (US$1.27bn) for Q1 2015, up 7.5% year-on-year. EBITDA was up 7.9% to TRY1.3bn, while the EBITDA margin stood at 39%. Mobile revenues grew 22% to TRY1.2bn, which the company attributed to a subscriber increase, data revenue growth and increases in its postpaid ratio and smartphone penetration.
“These key metrics underline the sustainability of our success and potential for continue
d strong growth in the mobile business led by data usage,” the Istanbul-based company said.
Avea is the third-largest of Turkey’s four mobile network operators, trailing Turkcell and Vodafone’s local unit.
