Page 52 - TURKRptDec20
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Ulker had a 37.8% market share of the Turkish confectionery market at end-June 2020.
The company has leading market shares in the chocolate and biscuits segments but it is behind Eti, its largest competitor, in the cakes category.
The market shares of international confectionery producers, such as Nestle (A+/Stable), Mondelez and Ferrero, in Turkey are substantially smaller than those of Ulker and Eti.
Morgan Stanley Capital International (MSCI) announced on November 10 that it has excluded Istanbul-listed beer producer Anadolu Efes (AEFES) from its Turkey index as of November 30. The stock would face $44mn worth of passive outflows, 9.3 times higher than the one-month average daily trading volume (ADTV) of the shares, VTB Capital wrote on November 2.
8.2.4 TMT corporate news
Russian tycoon Mikhail Fridman on November 9 grabbed the opportunity presented by a spike in the Turkish lira (TRY) and the latest ‘vaccine rally’ on global markets to benefit from the sale of a 5% stake in Turkey’s largest mobile operator Turkcell (TCELL).
“[Russian tycoon Mikhail Fridman’s] remaining [19.8%] stake [in Turkcell] is for sale as well,” Ivan Kim of Xtellus Capital said, although it presently remains subject to a 12-month lock-up period.
The number of real person mobile subscribers boasted by Vodafone Turkey rose by a net 0.42mn to reach 24.1mn at end-September while overall subscribers, including machine-to-machine (M2M) subscribers, stood at 26.2mn.
Company revenues rose by 14% y/y to Turkish lira (TRY) 7bn in April-September period.
Some 83mn people, excluding hosted migrants, live in Turkey, according to official data.
Turk Telekom’s mobile subscriber total rose by 0.3mn to 23.1mn at end-September while Turkcell had 33.7mn. Both companies are controlled by the Turkish government.
Fitch: “Turkcell is Turkey's leading mobile operator and second-largest fixed-line telco. A mobile subscriber share of 41% at end-2Q20 positions it strongly ahead of closest rival Vodafone at 31% and Turk Telekom (TT) at 28%.”
Turkey fined Facebook, along with its Instagram platform, as well as Twitter, Google’s YouTube and China’s TikTok Turkish lira (TRY) 10mn ($1.18mn) each for not complying with the country’s new social media law. Fines will rise to $3.8mn in December. January could see the imposition of local advertising bans.
Bandwidth throttling is next on the rising scale. If it proves necessary, it would start in April and May.
Turkey’s Competition Board fined Google Turkish lira (TRY) 200mn ($26mn) for “abusing its market dominance”. Google was previously in February hit with a fine of around TRY100mn by the regulator. In September 2018, the authority fined Google TRY93mn, equivalent to 0.05% of its revenue
52 TURKEY Country Report December 2020 www.intellinews.com
