Sunday, August 7, 2016

Turkcell Still Bedeviled By Uncertainty

Turkey's largest mobile services provider, Turkcell (NYSE:TKC), continues to find itself mired in uncertainties that have weighed heavily on the shares. From questions about market share and competitiveness with Vodafone (NASDAQ:VOD) and Turk Telekom's (OTC:TRKNY) AVEA, to management's capital allocation priorities, to the seemingly endless squabbles between the largest owners, this is a consummate case of "it's always something".

While Turkcell's shares do look undervalued, and it seems as though the ownership spat may be nearing an end, I'm not sure the discount to fair value is so large as to be worth the trouble. Turkcell has its work cut out moving its subscriber base on to more lucrative post-paid contracts and higher-end phones, and I'm more concerned about the value to be gained from the company's expansion plans.

Read more here:
Turkcell Still Bedeviled By Uncertainty

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