TURK TELEKOM 



HOLDINGS
 
TURK TELEKOM
 
 
History
 
From 1924 to 1995, Turk Telekom (TT) operated as part of the General Directorate of Postal Telegraph and Telephone (PTT). In 1995, TT was separated from PTT and incorporated as a joint stock company under the ownership of the Undersecretary of the Treasury. On July 1 2005, Oger Telecom was declared the winning bidder for the privatization of 55% of TT for $6.55bn - the biggest FDI in the history of Turkey. Oger Telecom recognizes Turkey as an important strategic market with considerable potential for long-term growth and believes its investment in TT will spearhead the introduction of new technologies to the Turkish telecoms market, bringing a host of exciting products and services.
 
   
Operational review
 
Türk Telekom is the leading provider of fixed-line services in Turkey. Through its 81.12% shareholding in Avea, it also provides mobile communications services in Turkey. For the year ended 31 December 2007, Türk Telekom's total consolidated revenue was TRY 9,232 million, and it had consolidated EBITDA of TRY 4,163 million.
 
Türk Telekom offers PSTN, Internet access, data and other fixed-line communications and value-added services to wholesale and retail customers in Turkey through its extensive fixed-line telecommunications network, which covers almost 100% of the population. As of 31 December 2007, it had approximately 18.2 million PSTN access lines in service. At that date, Türk Telekom had a market share in Turkey of approximately 97% of the wholesale broadband Internet access market based on number of broadband Internet access lines with 4.5 million ADSL Internet access lines. Türk Telekom offers wholesale Internet access services to a number of retail ISPs in Turkey, including its wholly owned subsidiary TTNet. As of 31 December 2007, TTNet had an approximate 95% share of the retail ADSL access market in Turkey based on number of ADSL Internet access lines. Türk Telekom also operates IT consulting services, telecommunications product and software services and education content businesses through the Company's wholly owned subsidiaries Innova, Argela and IES. The Company also operates CRM systems, directory services and call centres through its wholly owned subsidiary AssisTT. In addition, the Company owns an indirect 15.2% beneficial interest in Albtelecom, the incumbent fixed-line operator in Albania.
 
   
Shareholder Structure
 
55% ownership by Oger Telecom Ltd. (through OTAS), 30% held by the Turkish Treasury, and the remaining 15% Free Float.
 
   
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