We conduct our mobile operations in growing markets like Azerbaijan, Kazakhstan, Moldova and Georgia through our subsidiary Fintur, in which we hold a 41.45% stake.
The ventures where Turkcell owns a stake through Fintur include Azercell, Geocell, K'Cell and Moldcell.
Azercell was founded in 1996 as a joint venture of Azertel and the Ministry of Telecommunication of Azerbaijan. Fintur owns a 51% interest in Azercell through direct and indirect holdings.
Deriving its strength mainly from its wide coverage area, strong network structure, high quality service, extensive product range, highly professional staff and support of shareholders, Azercell allows its subscribers to make calls using the networks of 430 operators in 153 countries around the world.
The merger of Georgia's two GSM operators, Geocell and GT Mobile, enabled Geocell to expand its coverage area and capacity and launch prepaid services. Fintur indirectly owns 97.5% interest in Geocell.
K'Cell commenced its services in 1999 after obtaining a renewable 15-year license for standard GSM network services. Fintur owns a 51% interest in K'Cell, the undisputed market leader in Kazakhstan, based on subscriptions, growth rate, investment volume and variety of services.
Moldcell, one of the two GSM operators in Moldova, commenced operations in 2000. Fintur wholly owns Moldcell. Moldcell was the first operator in Moldova to provide services ranging from SMS to roaming for prepaid subscribers, WAP/Internet Access, GPRS/ EDGE, 3.5G and BlackBerry Enterprise Solution.
Astelit, in which Turkcell holds a 55% stake through Euroasia, has operated in Ukraine since February 2005 under the brand life:).
Since its inception in February 2005, Astelit has worked on establishing network coverage to provide high quality services in the Ukraine. Astelit has also focused on establishing brand awareness and values.
As part of our efforts to evaluate investment opportunities in the region, we had signed a Share Purchase Agreement (“SPA”) on July 30, 2008 to acquire a 80% stake in Belarusian Telecommunications Network (“BeST”). The stake is acquired from the State Committee on Property of the Republic of Belarus for a consideration of US$500 million. As the necessary conditions to acquire 80% of BeST have been fulfilled as of August 26, 2008, transfer of shares was realized and the payment of US$ 300 million, which was undertaken as the first tranche of the deal, was made and also another US$100 million was paid in December 31, 2009. Additional US$100 million tranche is also paid on December 31, 2010. An additional payment of US$100 million shall be made when BeST records a full-year positive net income for the first time.
We believe that acquiring BeST created an opportunity for Turkcell by entering a market with a growth potential. We are confident that our experience from Commonwealth of Independent States (CIS) will help us differentiate BeST most effectively in Belarus in the least amount of time.
Kibris Mobile Telekomunikasyon Limited Sirketi, or Kuzey Kibris Turkcell (KKTCell), a 100% owned subsidiary of Turkcell, was established in 1999 and operates within the framework of a revenue-sharing agreement with the Telecommunications Authority of the Turkish Republic of Northern Cyprus.
Introducing 3G technology to Northern Cyprus in 2008, KKTCell began offering 3G services and products to the people of Northern Cyprus on October 14, 2008. In 2010, through its radio link project, KKTCell had the only international gateway other than that of the TRNC Telecommunication Board.
Turkcell's wholly owned subsidiary in Germany, Turkcel Europe, commenced its operations in 2011. Turkcell Europe brings together the Turkish community of three million people living in Germany, and anyone else having close contact with Turkey with Turkcell's service quality, both in Germany and Turkey.
Besides providing reasonable call offers to Turkey from Germany, along with advantageous Turkcell offers also in Turkey, Turkcell Europe aims to provide a unique experience to its customers in both Turkey and Germany. Furthermore, Turkcell Europe subscribers can access the exclusive product and service offers of Turkcell via T-Mobile (Deutsche Telekom AG), Germany's premium mobile communications network operator.
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