BGC Partners: Notes from Turk Telekom <TTKOM TI> 4Q19 Conference Call, neutral…
2020 guidance (14% revenue growth (excl. IFRIC), TL12.4bn EBITDA, and TL5.8bn capex) is a realistic one, but the management may revise it going forward when necessary. There may be some increase in opex higher than the revenue growth (commercial spending, some salary increases etc.) to drive top line growth, as indicated by the guidance.Turk Telekomuniksayon is an integrated telecommunications company in Turkey. Co.'s principal activities include the provision of local, national, international and mobile telecommunication services, internet products and services, as well as call centre and customer relationship management, technology and information management. Co. has service network and product range in the fields of individual and corporate services. Co. provides services in all 81 cities of Turkey. Co. has two main segments; fixed line and mobile. As of Dec 31 2015, Co. had 12.9 million fixed access lines, 8.0 million broadband and 17.3 million mobile subscribers.
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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