I strolled in this morning to find a nice surprise that Turkcell (TKC) will receive frequencies to run 3G in Belarus. The company is the only mobile operator to receive 3G frequencies in the country.
This adds to their continued strategy to drive 3G within their own market, and into other developing markets as well. The company stated back in Q1 that the would be launching 3G services in 81 cities across Turkey within 3 months. The company's first quarter performance was quite impressive despite the economic conditions at the time. Subscriber base increased by 4% YOY, much of that attributed to the 18% YOY growth in prepaid wireless subscribers. The company continues operate with a strong liquidity position which allows them to make acquisition plays similar to the move last year to acquire BEST. This opened the door into the Belarussian market. As of Q1 the company was sitting on $2.9B in cash against $780 million in debt. The company runs a P/E of 8.2 and with the recent stock price jump, it still sports a 5.4% dividend yield.
хорошую работу Turkcell
or should I say
iyi iş
Investing 10 grand across a number of positions last year has been tough. It's good to see TKC come through finally.
Friday, July 31, 2009
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