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Turkcell completes sale of Inteltek majority stake to Intralot arm

Oct 2, 2020, 12:50:07 PMArticle by Dragana Petrushevska
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ANKARA (Turkey), October 2 (SeeNews) - Turkish mobile phone operator Turkcell [IST:TCELL] said it completed the sale of a 55% stake in local betting venture Inteltek to Intralot Iberia Holding, a fully owned subsidiary of Greek gambling company Intralot, for 6.06 million lira ($781,061/666,602 euro) in cash. 

Turkcell completes sale of Inteltek majority stake to Intralot arm
hikrcn/Shutterstock.com

Turkcell generated approximately 1.6 million lira profit from the transaction completed on September 30, it said in a statement on Thursday.

Through the transaction, Intralot Iberia Holding is taking over full ownership of Inteltek.

Turkcell signed a binding agreement to sell the 55% shareholding in Inteltek in January and received an antitrust approval for the transaction in June. 

Through the transaction, Intralot Iberia Holding is taking over full ownership of Inteltek.

(1 euro = 9.09088 lira)

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