Türk Telekom announced that they applied to the Information and Communication Technologies Authority (BTK) for permission to acquire 55 percent of the shares of Ojer Telekomünikasyon AŞ (OTAŞ) via a joint venture company.

In a statement to the Public Disclosure Platform, Türk Telekom indicated that it had been notified by some lending banks as part of the ongoing process to acquire the shares through a joint venture company (Special Purpose Vehicle - SPV) in which the banks that gave credit to OTAŞ will be stakeholders.

According to the statement, in accordance with the legislation to which Türk Telekom and its subsidiaries are subject, it requested that permission, notification and approval operations carried out by Türk Telekom and its affiliates be conducted by the relevant institutions and organizations. In this context, Türk Telekom applied to the BTK for permission in accordance with the relevant legislation.

In early July, Turkey's İşbank, Garanti Bank and Akbank announced that all creditors, including themselves, plan to take over OTAŞ shares via SPV under loan agreements.