Turkish operator Turkcell seeks foreign partnership

Turkish operator Turkcell seeks foreign partnership

Turkish operator Turkcell is seeking strategic foreign partnerships for its subsidiaries, CEO Murat Erkan said.

 

According to a report in the newspaper, Hurriyet, Murat said the company has opened up the subsidiaries Paycell, Bip, and Superonline to investors, and funds from the US, Asia, and the Middle East have shown interest in its companies. He added the company is looking for partners to speed up expansion abroad, and not just financial investors.

Individual stakes of up to 10% could be offered to foreign partners in the coming months, said Murat.

Turkcell has authorized U.S. finance giant JP Morgan to find investors for its payment processing company Paycell. Talks are ongoing with about 10 potential investors.

Turkey’s prominent mobile operator and the digital giant are also considering new investments in the gaming industry and blockchain technology, said the report in Hurriyet.

“It could be through partnerships, acquisitions, or investments in unicorns [innovative private companies valued at over $1 billion],” the Turkcell CEO said.

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