TTNET

Two Turkish deputy transport and transport ministers have been appointed to the Türk Telekom board of directors after two members of the company resigned. 

The Turkish Treasury and Finance Ministry has given the final approval paving the way for the transfer of a majority stake of Türk Telekom to a joint venture of creditor banks.

The transfer of a majority stake of Türk Telekom to a joint venture of creditor banks has been approved by Turkey's communication authority.

Türk Telekom has reported a net profit of 1.1 billion Turkish Liras ($299 million) in 2017 after a loss of 724.3 million liras the previous year. 

Türk Telekom has no plans to take on new debt and aims to keep capex spending to a minimum under a new five-year strategy, its chief executive told Reuters, as it focuses on paying out dividends.

The Turkish economy has grown beyond expectations and 2017 has been a successful year for Türk Telekom, the company’s CEO, Paul Doany, has said.

Türk Telekom has said its Avea unit and Vodafone Telekomunikasyon A.Ş. have together won a Turkish tender to provide and operate mobile communications infrastructure in areas where there is currently none.

Turkey's state-run defense company ASELSAN and mobile operators Turkcell, Türk Telekom and Vodafone have cooperated to develop a base station antenna to be used for the 4.5G network.

Transport Minister Ahmet Arslan attended the signature ceremony on Jan. 26 on the sidelines of the "5G and Beyond Technologies Conference" about the use of the domestic base station antenna. 

The number of broadband Internet subscribers in Turkey has topped 59 million, while the ranks of cellphone subscribers is nearly 75 million, Communications Minister Ahmet Arslan said on Dec. 13.

The Türk Telekom Group has said that its board of directors decided to appoint Boulos H.B. Doany as new CEO-general manager effective as of Sept. 26, in a written statement. 
The group's former chief, Rami Aslan, resigned from his position after three years of service in late August, yet he continued to serve as CEO at Türk Telekom until a new appointment was made.