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VTB Group and Alfa Group to team up on Turkcell investment

7 November 2016


VTB Group and Alfa Group have signed an agreement stating their intention to invest in Turkcell, a Turkish telecommunications company, due to Alfa Group’s potential increase of its stake in the operator. VTB’s participation in this transaction reflects its commitment to diversifying its investment and credit portfolios by working with one of the leading telecommunications companies in the fast-growing and highly profitable Turkish market.

According to VTB experts, the deal could help Turkcell generate higher foreign exchange earnings and further enhance its investment potential.

The investment in Turkcell is another step towards developing Russian-Turkish business ties.

VTB Group is one of the largest financial companies in Russia and the CIS, operating across all financial segments with a foothold in more than 20 countries. The majority shareholder of the Group is the Russian Government.

Turkcell is Turkey’s largest telecommunications operator present in Ukraine, Belarus, Germany, and Northern Cyprus, and is also represented by Fintur in Azerbaijan, Kazakhstan, Moldova and Georgia, serving over 60 million subscribers.

Alfa Group is a leading investment group operating in Russian and international markets focusing on telecommunications, financial and retail industries.

VTB Group

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