2021 Q1 2 Overview 4
Q1’21 Highlights 9
Business Lines 15
Strategy 27
Financial Highlights 33
Group Companies 40
Appendix 43
3 Overview 5 1
2
3
4
5
6
7
6 Diversified Subscriber Base Pay TV (As of Q1 ‘21) Mobile Broadband Fixed Voice (Home and GO)
Pay TV Mobile (Home and GO) 6% 46% 50.6mn subscribers 27% Broadband
21% #3 #1 #1 #2
Fixed Voice 23.3 mn 13.6 mn 10.6 mn 3.1 mn Vodafone Turkcell subs subs subs subs
Broadband Mobile Market share ranks are from latest ICTA report. 5% 91%
24.9mn 37.4mn subscribers subscribers multi product 62%* ownership 95% 2% 7% Pay TV Mobile Broadband (Home) 7 Turkcell and Vodafone data are from their own publications as of Q1 ‘21. *Among constant customer sub-universe that provided consent last year Fixed Broadband Fixed Voice Mobile Pay TV (Home and GO) (market share) (market share) (market share) (market share)
20% 39% 15% 41% 27% 56% Wholesale Retail 19% Q1 ‘21 Q1 ‘09 20% Q1 ‘21 Q1 ‘21 21% Q1 ‘21 Q1 ‘21 28%
80% 61% 85% 24% 31% 33%
Subscribers* & Avg. Monthly Total Subscribers 4.5G Subscribers & Avg. Monthly Tivibu Home Subscriber Market Data Usage Data Usage Share
Total subscribers (mn) Average usage (GB) Total subscribers (mn) Total 4.5G Average usage of subscribers (mn) 4.5G (GB) 11.1 197.2 9.1 107.5 138.6 6.6
24% 23% 22% 18% 17.1 72.4 75.4 77.3 13.6 14.6 11.6 11.7 12.4
Q1 '19 Q1 '20 Q1 '21 Q1 '19 Q1 '20 Q1 '21 Q1 '19 Q1 '20 Q1 '21 2017 2018 2019 2020
Household penetration in Europe 73% Population penetration in Turkey 15% Population penetration in Europe 127% Household penetration in Europe 83%
Household penetration in Turkey 69% Population penetration in Turkey 100% Household penetration in Turkey 29%
Average household size Mobile broadband population 3.3 penetration in Europe 115% in Turkey people *Dial-up and other methods are included Mobile broadband population penetration in Turkey 80% **As of Q4 ’20 **As of Q4 ’20 **Based on our calculation as of Q1 ’21 ***Based on our calculation as of Q1 ’21
Fixed broadband and pay TV markets include 27 European countries and the UK Mobile market includes 14 European countries and the UK 8 Source: Analysys Mason, ICTA 2021 Q1 Highlights 50.6mn subscribers Net Adds
Broadband 204K 2.0mn Q1 ‘21 LTM
Mobile 103K 90K Q1 ‘21 LTM
Fixed Voice -52K 476K Q1 ‘21 LTM 198K Net 2.2mn in Q1 ‘21 additions* in LTM
10 2021 Q1 Highlights
Total 50.6 mn Net TL 1.4 bn Subscribers Income
Free Cash Revenue TL 7.6 bn TL 750 mn Flow (FCF)
EBITDA TL 3.8 bn CAPEX TL 1.3 bn
EBITDA 50.1% Net 1.15x Margin Leverage
11 Q1 ‘21 Revenue Breakdown Fixed Broadband Fixed Voice (% of Consolidated Revenue) (TL mn) (TL mn)
25% 34% 1% 1%
8,306 2,470 2,685 2,718 6,625 2,339 1,839 671 686 679
2019 2020 Q1 ‘20 Q4 ‘20 Q1 '21 2019 2020 Q1 ‘20 Q4 ‘20 Q1 ‘21 Corporate Data Fixed Voice Mobile Corporate Data 7% (TL mn) (TL mn) 9%
11% 13% 13% 14% Mobile 34% TL 7.6bn Q1 ‘21 33% 9,867 2,607 2,576 8,896 2,273 2,053 1,822 484 537 551 Fixed 5% Broadband 12% 2019 2020 Q1 ‘20 Q4 ‘20 Q1 ‘21 2019 2020 Q1 ‘20 Q4 ‘20 Q1 ‘21
IFRIC 12 Other 12 Consolidated EBITDA Development EBITDA & EBITDA Margin (TL mn) (TL mn)
EBITDA (TL mn) EBITDA Margin
47% 47% 47% 46% 50% 41% 34% 36%
13,237 11,170
8,436 3,803 6,452 3,546 5,470 2,977
Türk Telekom adopted IFRS 15 and IFRS 16 accounting standards starting from1 January 2018 and 1 January 2019, respectively. For further details please refer to ‘’Financial Footnotes‘’ & ‘’Summary Financial and Operational xls’’ on our web site. 13 Q1 ‘21 Opex Breakdown Personnel Expense Provision for Doubtful (% of Consolidated Opex) to Sales (%) Receivables to Sales (%)
14.5 14.4 15.2 13.7 13.7 1.2 1.0 0.8 0.9 0.6
2019 2020 Q1 ‘20 Q4 ‘20 Q1 ‘21 2019 2020 Q1 ‘20 Q4 ‘20 Q1 ‘21
Tax Other Direct Cost & Other Cost Commercial Cost to Sales (%) Interconnection 17% 7% Commercial 17% 6% TL 3.8bn Q1 ‘21 Network IFRIC 12 9% 14% 3.9 3.9 3.4 3.2 2.9
30% 2019 2020 Q1 ‘20 Q4 ‘20 Q1 ‘21
Personnel 14 Business Lines Fixed Broadband Revenue ARPU & Subscribers Subscriber Breakdown1 (TL mn) (% of Subscribers)
Penetration3
8% 2 Fibre 42% Q1 ‘20 56.5 61.0 53.5 49.5 50% DSL
13.6 13.4 Penetration3 11.4 11.6 4% 25% 2 YoY 6.2 7.3 Fibre 4.2 4.4 204K 2.0mn Net Add 59% Net Add Q1 ‘21 8,306 34% 37% 6,625 YoY 2,470 DSL 7.2 7.2 7.2 1,839 6.3
1Retail only 2019 2020 Q1 '20 Q1 '21 2019 2020 Q1 '20 Q1 '21 2Fibre subscribers include FTTH/B & FTTC subscribers 3Customers acquired through penetration campaigns
16 Türk Telekom Fibre Network Superonline Fibre Network
Presence in 23 cities of Turkey 336K km fibre length 51K km fibre length Wholesale customer of Türk Telekom Present in 81 cities of Turkey As of Q1 ’21 Based on Turkcell’s own publications as of Q1 ‘21
Fibre Homepass (mn) Fibre Subscribers (mn)
Unrivalled fibre network 7.3 7.4 7.7 Strong prospects for monetization 6.2 6.3 Best placed to benefit from move 5.3 4.2 towards higher connection speeds 4.5 3.6 3.9 2.7 Well-equipped to support 5G/small- 3.3 19.5 19.4 3.4 3.5 3.8 3.9 2.0 cell deployment 2.7 3.1 15.6 1.4 1.5 1.7 1.7 2.4 11.7 13.4 1.0 1.2 8.7 10.0
2015 2016 2017 2018 2019 2020 Q1 '21 2016 2017 2018 2019 2020 Q1 '21
Fibre subscribers include FTTH/B & FTTC subscribers 17 Customer Experience
• • • •
• • • •
• • • • •
•
18 ADSL to Fibre Conversion
•
• • • ~3x • •
ARPU Growth
14.4% 14.3% 14.0% 14.1% 13.6% 13.4%
37% 38% 39% 41% 46% 54%
63% 62% 61% 59% 54% 46%
19 Mobile Revenue Growing ARPU & Subscribers Net Subscriber Additions (TL mn) (thousand)
1,929 35.3 36.4 32.9 32.5 YoY Growth in 2020 1,430
22.9 23.2 23.2 23.3 710 670 620 600 240K 380 Net Add 290 14.0 240 11% 13.7 14.8 15.0 103 YoY 103K 13% Net Add YoY 9,867 -330 8,896 2,273 2,576 9.3 8.4 9.2 8.3 -1,050
2019 2020 Q1 '20 Q1 '21 2019 2020 Q1 '20 Q1 '21 2018 2019 2020 Q1 '21
Source: ICTA, Türk Telekom
20 Extensive Network Coverage Superior Spectrum Allocation
20.0 24.8
20.0 59.6 Highest 20.0 Share of 20.0 24.8 ≤ 1,800 70.0 70.0 95% LTE 20.0 c.22,600 MHz 35.0 Sites Population 30.0 60.0 Coverage 35.0 40.0
Turkcell Vodafone 2,600 MHz 2,100 MHz 1,800 MHz 900 MHz 800 MHz
Highest Spectrum Capacity Per Subscriber 97% coverage (MHz/Subscriber)
95% coverage
7.5 6.9 5.3 5G Getting ready for 5G via ongoing studies by Argela and Türk Turkcell Vodafone Telekom on RAN slicing, NFV and SDN
21 Data Revenue (Mobile service revenue share)
60% 61% 61% 61% 64%
2019 2020 Q1 '20 Q4 '20 Q1 '21
LTE Users* Avg. Monthly Mobile Data (Total Subscriber share) Usage (GB per LTE user)
64% 58% 61% 8.2 9.0 8.9
Q1 '20 Q4 '20 Q1 '21 Q1 '20 Q4 '20 Q1 '21
22 Global Mobile Network Experience Awards 2021 Improvement in Mobile Network Experience*
Türk Telekom
Video Experience Opensignal, an independent research and analytics house 16.0% specialising on customers’ true experience on mobile networks listed Türk Telekom amongst “Global Rising Stars” and “Global High Performers” in its “Global Mobile Network Experience Awards 2021”. Türk Telekom was the only Download Speed Experience 49.8% operator from Turkey that ranked in a total of 5 categories.
Upload Speed Experience 32.8%
4G Availability 8.0%
Voice App Experience 79.6**
*Opensignal Awards – Global Mobile Network Experience Awards 2021 Awards 2021 23 based on independent analysis of mobile measurements recorded during the period July 1 – December 27, 2019 & 2020. © 2021 Opensignal Limited. ** 79.6 out of 100 TV Revenue Tivibu Home Subscribers Tivibu Go Subscribers (TL mn) (thousand) (thousand)
19.3 20.8 16.3 18.2
1,819 1,605 1,539 1,595 1,534 1,540
10% YoY 2019 2020 Q1 '20 Q1 '21 Q1 '20 Q1 '21
383 348 10% YoY
92 101 ‣ Turkish Basketball Super League ‣ 4 Inhouse Sports Channels ‣ NBA ‣ Kids & Documentary Channels ‣ English Premier League ‣ 5,800 on demand assets 2019 2020 Q1 '20 Q1 '21 ‣ Formula 1
24 Fixed Voice Revenue Access Lines and ARPU (TL mn)
22.5 22.0 22.3 21.3
16.3 16.4 14.6 14.8
5.6 5.8 4.6 4.6 1% YoY 1% 2,685 2,718 YoY 631K Net Add 52K Net Loss 671 679 10.0 10.6 10.1 10.6
2019 2020 Q1 '20 Q1 '21 2019 2020 Q1 '20 Q1 '21
25 Corporate Data Revenue Conventional Corporate Data Services (TL mn) Customer-oriented integrated communication solutions
Cloud Services, Metro Ethernet, TT VPN, Leased Line
Data Centre Services Secure, redundant and accessible data centre services at high speeds Server hosting, rental, cloud server, storage, backup, cloud replication & backup, traffic forwarding 3 Centres: İstanbul Esenyurt (10K m2 white area), Ankara Ümitköy (2.5K m2 white area) and İstanbul Gayrettepe (1.6K m2 white area)
Cybersecurity Services Shared security services, dedicated security services, cybersecurity center management services
End-to-End cybersecurity services, DDoS Attack Prevention Services, Türk 13% Telekom Web Application Firewall, UTM (Unified Threat Management) services YoY
2,053 1,822 14% YoY New Generation Cities 484 551 Offering secured, sustainable and better quality of life
New generation transportation, health, lifestyle, energy, security and 2019 2020 Q1 '20 Q1 '21 environment
26 Strategy Strategy Focused on Sustained Profitable Growth
Core Services New Income Areas Customer Focus Efficiency
Growth and digitalisation in Growth in new areas supporting Redefining customer experience Improving efficiency with digitalisation main business lines our main business and new operational models Strong growth and leadership in retail and Pursue value accretive TV/OTT and Attain best in class digital, end-to-end Increase efficiency with digitalisation, wholesale fixed broadband ICT/Cloud investments customer experience virtualization and new working models Provide high quality and fast internet access Consumer/Enterprise focused Develop customer-oriented, agile Strict cost control and rigorous capex nationwide and lead Turkey's fibre transformation digitalisation working models management Increase number of access lines and expand Provide accessible cloud/computing/IoT Provide personalized offers and Lean technology and streamlined household print solutions content, in addition to digital products organisation Achieve fair market share in mobile, focus on Large scale ICT projects (smart cites, and services Be ready for 5G and next generation value creation health campuses, etc.) technologies Create Turkey’s leading digital TV/OTT platform Additional value creation via with tech upgrade and attractive content subsidiaries and new venture capital initiatives
Pay TV Broadband Mobile Fixed Voice (Home and GO) Increase fixed broadband penetration Gradually increase market share Synergy offers & cross-sells Increase market share Efficient use of diversified sales channels Encourage data usage Protect fixed voice position via cross-sell Improve customer experience Upsell to higher speeds and capacities Maximise value offerings Aim to monetize existing subscriber base
28 Vehicle-to-Everything Smart Cities E-Health (V2X) 9 smart cities with Türk Telekom E-sim LIGHT E-Call Mobile EKG Smart organ carrying units
Media & Industry Cloud Entertainment 4.0 Network
Turkey's first 5G live Smart factory solutions to SDN (Software- match via 360 minimize errors in industrial Defined Networking) degrees VR applications and maximize NFV (Network technology production & efficiency Function Virtualization) World record by Digitalisation Network Slicing reaching above 2.92 B2B Solutions Gbps speed
29 Preparations for 5G with pilot 5G test networks Working with Argela for SDN& NFV based Working on 45% of LTE base stations cybersecurity solutions 5G transformation of connected with fibre network ahead of 5G Turkey’s largest Cyber Work to manage the 5G network Security Services Centre with AI technology in Ankara with wide portfolio of end-to-end First Industry 4.0 5G test in solutions Turkey
Best in class cloud computing solutions Six data centres in Leading largest Unified Istanbul and Ankara; smart city projects telecommunication Esenyurt with 10k, in Turkey services to corporates Ümitköy with 2.5k and Gayrettepe with 1.6k sqm white area
30 16 mn 49 mn 78% 71% YoY increase
TL uploads and The share of invoice Unique users Downloads as collections payments via in Q1 ‘211 of Q1 ‘21 through digital online channels channels2 in Q1 ‘21
1 Online Transaction Application 3-Month active user 2 Share in the consumer segment 31 32 Financial Highlights Net Debt Maturity Profile
>5 yr 1.86 1.76 1.55 2% 1.41 1.38 1.31 1.35 1.15 1.15
2 to 5 59% 23% Up to 1 yr yr* Q1 ‘21
17.4 17.1 16.5 15.9 16.0 16.0 17.1 15.4 16.2 16%
1 to 2 yr
Q1 '19 Q2 '19 Q3 '19 Q4' 19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Note: Net Debt calculation includes market valuation (MTM) of Foreign Currency TL money swap All loans are senior unsecured transactions. Net Debt/EBITDA calculation does not include extraordinary provisions in EBITDA * including 2024 & 2025 maturity bonds (USD 500 mn each) calculation. Cash – Gross Debt – Hedge – Currency Breakdown Currency Breakdown Composition of FX Position
100 TL TL EUR EUR 17% 21% 10% 28%
Q1 ‘21 Q1 ‘21 3.7bn TL 20.8bn TL
55% 69% USD USD *FX Debt calculation includes FX financial debt (including FX lease obligations) 34 and FX net trade payables. Hedged amount includes hedging of FX financial debt, hedging of FX net trade payables and net investment hedge. Net FX Exposure * Cash Flow * (USD mn equivalent) (TL mn)
158 100
6,876 6,376 -457
1,585 750
Q1 '20 Q4 '20 Q1 '21 2019 2020 Q1 '20 Q1 '21
*Net FX exposure is calculated as Total FX based Debt, less total Hedged Amount, less Total FX *Unlevered cash flow is defined as net cash provided by operating and investing activities from based Cash. operations.
Profit Before Tax Sensitivity (TL mn,10% change in FX rates)
Depreciation of TL Appreciation of TL
203 Q4 ‘20 Q1 ‘21 Q1 ‘21 Q4 ‘20 -59 -13 -73
35 Fitch S&P Global
Long Term Rating BB- BB-
Outlook Stable Stable
Stand-alone Credit bbb Profile (SACP)
Last Update 1 March 2021 12 March 2021
‣ Improved ability to withstand a weakening of the macroeconomic environment Rating Drivers ‣ Reduced exposure to foreign currencies ‣ Strong market position as the country's leading converged telecoms operator ‣ Focus on cost efficiency translates to better free cash flow generation and debt to EBITDA
36 Revenue (exc. IFRIC 12)1
EBITDA
CAPEX
(1)IFRIC 12 adjustment is a non-operational revenue line booked in conjunction with upgrades to our fixed line infrastructure suchas the upgrade from copper to fiber based network
37 Capex & Capex / Sales 2020 Capex Breakdown (%)
CAPEX (TL mn) CAPEX/Sales Other* 24% 20% 20% 21% 19% 19% 19% 19% 18% 17% 16% 17% 16% IT & Projects 17% 13%
2020 22% Mobile 6,739 47% Fixed 4,940 4,087 2,929 3,027 3,221 2,278 2,435 2,205 2,146 1,717
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 * Other Capex includes capex for subsidiaries (excl TTI), new revenue streams, IFRS 15 capitalization, etc.
Note: Capex figures exclude license fees 38 Dividend Distribution Dividend Yield & Payout Ratio
Dividend (TL mn) Dividend per Share (TL) Dividend Payout Ratio Dividend Yield
0.43 0.45 0.64 0.54 0.69 0.53 0.54 0.26 0.24 0.17 10% 9% 9% 8% 9% 4% 7% 4% 2% 7%
2,244 2,413 86% 92% 92% 92% 91% 93% 1,897 1,873 85% 1,841 70% 1,490 1,590 59% 912 841 602 25%
2008 2009 2010 2011 2012 2013 2014 2015 2019 2020 2008 2009 2010 2011 2012 2013 2014 2015 2019 2020
1) The cap in the first legal reserve was reached in 2010. 2) 2013 dividend payout ratio was revised to 70% with BoD decision to prepare for any potential transaction for implementation of integration of the Group. 3) 2019 dividend payout ratio was decided as 25% according to the temporary CMB regulation which capped dividend payout from 2019 earnings to 25%. 4) 2020 dividend yield was calculated over the closing price of 19 March 2021, the General Assembly date. 39 Note: Based on General Assembly decision, no dividends distributed for the activity years 2016 & 2017 & 2018. Group Companies The 5G and beyond next Turkey's leading software International arm of the Group that generation telecommunication developer company and opens up to the World in wholesale technologies R&D company system integrator data, voice and roaming services
vRAN: Radio Access Network technology based on System Integration Solutions A fibre network stretching approximately 45K SDN (Software Defined Networks) for LTE and 5G with Fintech Solutions kilometres in Turkey and CEE, Middle East & 40 patent applications (24 of which have been Caucasus regions Smart City and Smart Store Solutions accepted) >110 points of presence (PoP) in 22 countries Health Solutions NPM/CEM: Network Performance Monitoring and Billions of minutes of transit voice traffic per year, E-Transformation Solutions Customer Experience Management solutions used by >800 mobile roaming agreements and >320 LTE telecom operators in Turkey and the world The IoT Platform and Solutions mobile roaming agreements with c.200 business ULAK: Turkey's first and only LTE base station SAP, Business Intelligence, CRM, IT Governance, partners development project Project Management Services Value added unique solutions DEFINE: Turkey's first domestic DPI (Deep Packet Managed Services, Outsourcing, Consulting AMEERS: New route connecting Western Europe to Inspection) solution development project Services the Middle East SEBA+: Broadband access technology for fixed SEA-ME-WE-5: Undersea cable system connecting networks Europe to Africa, the Middle East and Asia Commercialisation in R&D studies KAFOS: Undersea cable system extending from the Member of BBF, member of ONF & ONAP with its Black Sea to Europe subsidiary Netsia (USA) MEDTÜRK: Undersea cable system connecting the Middle East, Turkey and Europe
41 Leading customer service Turkey’s leading and long- The Group’s corporate solutions company established education venture capital company technologies company Beyond traditional call centre services, E-education products covering all levels Focusing on investments which contribute sales-marketing, social media management, from pre-school to high school to the growth of early-stage and scalable- face-to-face services, revenue management, Leading education products: Raunt, SEBİT target ventures especially in the areas of quality management, customer experience VCloud and Vitamin health, energy and education management, new technologies and digital Content and platform provider to the The first agreement in the health field solutions Ministry of Education in national e-education vertical: DoctorTurkey Customer Experience Centre, offering transformation projects The second agreement in the education solutions as a strategic road companion to sector vertical: MentalUP large-scale private and public institutions The third agreement in the energy sector with >13K employees vertical: Eltemtek
42 Appendix (TL mn)
44 (TL mn)
(1) Tangible assets include property, building or plant and equipment and investment property (2) Major items within other assets are trade receivables, due from related parties, inventories, deferred tax asset, tax assets and other current assets. (3) Includes short-term and long-term borrowings and lease obligations (4) Major items within other liabilities are deferred tax liability, trade payables, provisions, income tax payable, due to related parties, other current liabilities and provisions for 45 employee termination benefits (TL mn)
(1) Includes currency translation differences 46 (2) Blocked deposits are included in operating activities rather than net cash position (TL mn)
(1) Includes ICT companies, device sales, domestic interconnection and other revenues 47 (TL mn)
48 (1) Includes PSTN and WLR Subscribers 49 (2) Includes IPTV, DTH, and Tivibu GO subscribers (3) Includes IPTV and DTH subscribers Ownership and Corporate Structure Shareholding Structure
55% stake controlled by LYY (LYY Telekomünikasyon A.Ş.), an SPV Turkish of Turkish & International Banks Government
30% 30% owned by Turkish Ministry of Finance and Turkish Wealth Fund (25% and 5% respectively) LYY 55% 15% 15% publicly traded on Borsa İstanbul since 2008 (of which 1.68% also Free owned by TWF) Float
Corporate Structure
50 9.40 9.40 9.02 9.18 9.29 8.72 8.91
9.06 9.24 9.28 8.82 8.93 8.54 8.79
8.69 8.76 8.76 8.46 8.69 8.45 8.46
9.73 9.77 9.86 9.89 9.89 9.45 9.66
8.40 8.68 9.27 9.56 9.86 9.93 9.95
2014 2015 2016 2017 2018 2019 2020 51 52 Invitel Acquisition Brand Unification Acquired Pantel (rebranded Türk Telekom unified mobile, as Türk Telekom Aycell Merger fixed voice, fixed broadband and International), the leading with Aria TV brands under single “Türk wholesale capacity and Bond Issuance Aycell merged with İŞ- Avea Share Telekom” brand, while keeping data services provider in Türk Telekom TİM’s Aria and officially Bond Issuance Türk Telekomünikasyon A.Ş., Separation from Transaction Central and Eastern Türk Telekom issued successfully named “Avea İletişim Acquisition of TTNET A.Ş., and Avea İletişim Post Office Europe to complement its USD 1bn bond in completed its 500 Hizmetleri A.Ş” İŞ-TİM’s 40.55% Hizmetleri A.Ş. legal entities Türk Telekom separated international carrier tranches, at USD 500mn million Dollar bond stake in Avea, raising total intact from the Post Office business and infrastructure each, with a maturity of 5 offering of 6-year stake in Avea to 81.12% and 10 years maturity 2004 1995 2010 2016 2006 2014 2019
2001 2015 2008 2018 2013 2005 Aycell Avea Share Public Offering Transaction Establishment of CVC Established Company Türk Telekom’s GSM IPO with a listing on the Avea share transfer The Corporate Venture Capital operator, Aycell Istanbul Stock Exchange Integration transactions were completed Company was established under established (Aycell later Privatization and the sale of 15% Project Initiated and Türk Telekom has “TT Ventures Proje Geliştirme A.Ş.” named as AVEA after Privatized through a 55% stake owned by the Integration project for a became the sole owner of name merging with Aria 2004) stake sale to Oger Treasury to the public customer oriented Avea İletişim Hizmetleri A.Ş Telecom organization Shareholder Change 55% shares of Türk Telekom was transferred to LYY Telekomünikasyon A.Ş. (LYY) from OTAS
53