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Kinstellar Advises Turkey Wealth Fund on the Merger Control Approval for Its Acquisition of a Controlling Interest in Turkcell

October 2020 – Kinstellar’s Kyiv office has successfully advised Türkiye Varlık Fonu (Turkey Wealth Fund) in connection with obtaining merger control approval from the Antimonopoly Committee of Ukraine for the acquisition of a controlling interest in Turkcell İletişim Hizmetleri A.Ş.

Turkey Wealth Fund (TWF) is the wealth fund and strategic investment arm of the Republic of Turkey. TWF was established in 2016 following the transfer of public shares of 20 companies in eight strategic sectors including Turkish Airlines, Ziraat Bank, Halkbank, VakıfBank, Borsa Istanbul, BOTAŞ, TPAO and Türksat, as well as two licences and various real estate assets. The main objectives of TWF are to increase the value of the state-owned assets in its portfolio and to contribute to Turkey’s strategic investments. Further information can be found at https://www.tvf.com.tr/en/home.

Turkcell, a leading integrated telecoms and technology company, is one of Turkey’s most valuable assets and most recognisable brands. Within its portfolio Turkcell has an international mobile and fixed telecom business with more than 47 million customers, popular local OTT platforms such as BİP and TV+, as well as the techfin subsidiaries Paycell and Financell. Turkcell continues to be the only company headquartered in Turkey that is dual listed on both Borsa İstanbul and the New York Stock Exchange.

Please see Turkey Wealth Fund's press release here.

For more information please contact:

Olena Kuchynska, Managing Partner, at olena.kuchynska@kinstellar.com, or

Daryna Ushchapivska, Associate, at daryna.ushchapivska@kinstellar.com.

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