The Turkey Wealth Fund (TWF) announced that it has agreed with Telia Company, LetterOne, Çukurova Holding and Ziraat Bank to acquire 26.2 percent of the shares in Turkey's leading GSM operator, Turkcell. TWF becomes the largest shareholder in Turkcell with the acquisition.
“Turkcell is one of our biggest starting steps on our new road map. The story of TWF and Turkcell's growth and value creation has just begun," TWF CEO Zafer Sönmez said. “While the company continues its precursor role in product and services innovation, we intend to support Turkcell management in its focus on innovation and their strategic initiatives."
With more than 47 million customers, Turkcell is the leading integrated telecoms and technology company of Turkey.