Turkish telecommunications company
Türk Telekom is the formerly state-owned Turkish telecommunications company. Türk Telekom was separated from Turkish Post (PTT) in 1995.
Türk Telekom Group provides integrated telecommunication services from PSTN, GSM to wide-band Internet. The Türk Telekom Group companies had 16.8 million PSTN customers, 6 million ADSL customers and 12.1 million GSM customers as of September 30, 2009. With its network substructure covering the whole country, the group's companies offer a wide range of services to personal and corporate customers. Türk Telekom, which owns 99.9% of the shares of the companies TTNET, Argela, Innova, Sebit A.Ş. and AssisTT, is also the owner of 81% of the shares of Avea, which is one of the three GSM operators in Turkey. Türk Telekom also supports Albania's Albtelecom. 55% of the shares of Turk Telekom belongs to Levent Yapılandırma Yönetimi A.Ş. and 30% of the shares belongs to Turkey's Undersecretariat of Treasury. The remaining 15% of shares have been offered to the public.
In July 2018, in the course of the Turkish currency and debt crisis, Turkish and international banks took control of Türk Telekom due to billions of dollars in unpaid debt. Creditors set up a special purpose vehicle to acquire the company as they try to resolve Turkey's biggest-ever debt default.The company holds the naming rights to Türk Telekom Arena, home to the Galatasaray S.K.
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