Wednesday, March 16, 2022

Türkiye Wealth Fund acquires 55% stake in Türk Telekom

Türk Telekom announced the sale of the 55% stake owned by LYY Telekomünikasyon to Türkiye Wealth Fund (TVF), was signed between the parties (TVF and LYY). The deal was valued at US$1.65 billion.

In a statement on the subject, Arda Ermut, CEO and Member of the Board of Directors of TWF stated: “As TWF we focus on creating value in line with our mission as an asset-based development fund. Our primary goals include maximizing the value of our assets and supporting the emergence of regional and global leading companies from Türkiye. Türk Telekom is such a company that aligns with our strategies and objectives with its potential and brand value. In this regard, we have signed a SPA to acquire 55% of the total capital of Türk Telekom, a brand not only renowned in Türkiye but also globally.”

March 2022 presentation:'21.pdf