Sale of shares representing the share capital of Türk Telekomünikasyon A.Ş.
Sale of shares representing the share capital of Türk Telekomünikasyon A.Ş.
In our public disclosure, it was announced that negotiations had been started with Türkiye Wealth Fund (“TVF”) for the sale of 192,500,000,000 Group A registered shares representing 55% of the share capital of Türk Telekomünikasyon A.Ş. (“TTKOM”) owned by LYY Telekomünikasyon A.Ş. (“LYY”).
In this context, LYY and TVF have signed a Share Purchase Agreement on March 10, 2022 regarding the sale of 192,500,000,000 Group A registered shares which represent 55% of share capital of TTKOM with a consideration of USD 1.650.000.000. The share transfer will be completed following obtaining of necessary approvals and fulfilling of conditions specified in the relevant agreement.
Additionally, it has been agreed among parties that the dividend amount relating to the shares subject to sale, which will be determined according to the audited consolidated financial statements for the year end 2021 and approved at TTKOM’s 2021 General Shareholders’ Meeting, will be paid to LYY.