Türk Telekom Group, Turkey’s leading communication and convergence technologies Group, announced 2010 third quarter financial results. Türk Telekom Group’s net income grew 38.2% year over year for the first nine months of 2010 to TL 1.9 billion. Türk Telekom Group’s nine month 2010 consolidated revenues have reached nearly TL 8 billion with an increase of 1.8% compared to the same period of last year. The Group’s consolidated EBITDA* improved to TL 3.5 billion with a margin of 44%.
Türk Telekom continues its perpetual investments in innovation together with the support of its partnership with firms that operate in various sectors, and of which the operations and development influence the sector.
* The Türk Telekom Shareholders’ Agreement and the Articles of Association further state that the Turkish Treasury owns a “golden share” (Class C share). The “golden share” is required under the Telephone Law and provides that, in order to protect Turkey’s national interests relating to national security and the economy, the Turkish Treasury’s approval is required for the following matters: