It is recently rumored that Privatization Administration is readying some another 15% governmental shares of Turk Telekom for public offering that will be hold within the first months of 2010. However Treasury Department, which administrates the governmental shares, stated that there is no study going on for this action yet.
Turk Telekom was first put into the privatization list in 1995 but until 2005, that means a decade, privatization process was not started. 55% of the public company Turk Telecom was acquired by Oger Telecom, which belongs to Saudi Oger group, in return of some $6.65 billion after a successful biding held in 2005. 15% shares of the company, which was taken over on 15 November 2005, was put into public offering (3% were preserved for company personnel) with 4,6 TL unit price last May and 1,9 billion TL revenue was derived.
Share prices of Turk Telekom were evaluated to be low for public offering last year. But the prices decreased to 3,48 TL in December 2008 from some initial 4,6 TL value. Nowadays the value for share prices is wandering around 4,6 TL again.
Turk Telekom announced some 291 million TL profit in the first quarter. This is 27% lower than the last year’s same period numbers. But it should also be remembered that we are experiencing a global crises.
You can read an analysis on Turk Telekom – after the privatization process within our ICTOBSERVER bulletin which will be released in early August. You can write to [email protected] address for detailed information about bulletins and subscription conditions.
Kaynak : 