Deals
Turkcell Said to Eye IPO for Phone Towers to Raise Funds
- Company is also mulling a stake sale, other options for unit
- Sale, IPO would follow similar moves by other phone companies
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Turkcell Iletisim Hizmetleri AS, Turkey’s biggest mobile-phone carrier, is considering an initial public offering for its wireless towers unit, as it looks for ways to raise cash to cut debt and fund deals, according to people with knowledge with of the matter. The shares jumped to their highest level since December.
Turkcell may also decide to sell a stake in the tower and infrastructure business, the people said, asking not to be identified because the deliberations are private. The company is considering a number of options for the unit and no final decision has been made, the people said.