Turk Telekom sees ADSL users exceed 7 million in Q1 2012

Türk Telekom, Turkey’s enormous fixed-line telecommunication company, increased its number of ADSL Internet subscribers by 238,000 in first three months of 2012, bringing the total to over 7 million customers.
The company provided details about its first quarter performance in a written statement released on Tuesday, which said the size of new investments by Türk Telekom increased by 29 percent and reached TL 405 million in the first quarter compared with the same period last year. Türk Telekom CEO Hakam Kanafani said in the statement that the consolidated first quarter revenues rose by 3 percent over the same period in 2011 and reached TL 3 billion. The company’s GSM affiliate Avea also added 170,000 new customers to its portfolio, reaching 12.9 million in total. This constitutes a 9 percent increase in the number of Avea customers between January and March over the same period in 2011. Riyadh-based Saudi Oger bought a 55 percent stake in Turk Telecom from the Turkish government in 2005, for a total of $6.5 billion.
A 30 percent stake in Türk Telekom is held by the Turkish Treasury, while the remaining 15 percent is publicly traded. Following its privatization, Türk Telekom reached a market value of $15.6 billion.