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Turkcell Iletisim (TKC) Message Board

  • thewscott thewscott Jun 26, 2008 10:10 PM Flag

    Turkey's political instability

    is definitely impacting the risk profile of this stock, but I believe the political issues are WAY overblown. I do not believe the constitutional court will entirely dissolve the ruling AK party. But if this does occur, it will only be a temporary setback as any ruling political party will support continued economic growth, foreign investment, and domestic development. The constitutional court will not cut off its nose to spite its face.

    As the young population (avg age is under 30) continues to migrate to densely populated urban areas, organic growth in demand for mobile telcomm services will continue. According to a UK publication, Turkish youth account for the 4th largest Facebook user community and for the largest non-english user base. This demographic is a heavy user of Mobile services and this will continue no matter which political party runs the government

    With a price-to-earnings ratio significantly lower than the projected growth rate, TKC remains a huge bargain at the current valuation. Regardless of the government structure, TKC will continue to grow profitability as all market factors (urbanization, demographics, emerging market penetration increases, and Turkey GDP growth) are pointing in the right direction.

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