Turkcell CEO Mulling Globul Bid as Turkish LTE Appeals
Turkcell Iletisim Hizmetleri AS (TCELL) is seeking investments in Turkey while looking at reviving its bid for Bulgarian mobile operator Cosmote Bulgaria Mobile EAD, known as Globul, Chief Executive Officer Sureyya Ciliv said.
“There is investment opportunity in fiber, and in a two or three year’s time frame there will be LTE investments,” Ciliv said in an April 5 interview at Bloomberg’s headquarters in New York, referring to long-term evolution networks. “Instead of having three different networks for LTE, there may be only one network and Turkcell will be very interested in being the network to provide.”
Should Turkey’s national lottery be privatized, Turkcell would also consider buying it, Ciliv said.
Turkcell had $7 billion in cash and equivalents at the end of 2012, the most since the Tepebasi, Istanbul-based company went public in 2000, data compiled by Bloomberg show. Turkcell made an initial non-binding bid in November for Globul, which is owned by Hellenic Telecommunications Organization SA. (HTO)
The company won’t make a decision on its dividend until the issue is considered by a new board and a general shareholders’ meeting comes to a final decision, Ciliv said in the interview. Turkcell’s board convened April 4, the company said in a statement April 5.
Shares of Turkcell declined 2 percent to 12 liras in Istanbul April 5, the biggest drop since Jan. 30. The company’s American depositary receipts slipped 1.2 percent in New York to $16.69. Each ADR represents 2 1/2 shares.
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