Turk Telekom licence extension to pave way for sale, report claims

17 May 2022

A report from Bloomberg citing unnamed sources says that Turkey’s sovereign wealth fund – which completed its majority takeover of Turk Telekom (TT) early last month – is planning to extend TT’s main operating licence to boost the company’s value ahead of a potential sale. Turkey Wealth Fund is working alongside regulators and the communications ministry to extend the licence beyond its current Q1 2026 expiry, a move which could be followed by a secondary public offering or a direct stake sale, according to the sources ‘with direct knowledge of the matter’.

The state fund controls TT (including cellular arm TT Mobil) as well as mobile market leader Turkcell and cable/satellite major player Turksat.

Turkey, TT Mobil (Turk Telekom), Turk Telekom