I suppose there’s both cosmic and comic justice that one of the most Byzantine (and dysfunctional) ownership structures I’ve ever seen with a public company would involve a Turkish company – the mobile services operator Turkcell (TKC). For years, a fractious ownership structure has impaired the company’s ability to pay regular dividends, and has likely contributed to a discounted valuation relative to the underlying fundamentals.
With a series of transactions led by the Turkey Wealth Fund, those years of sometimes-childish squabbles should be over, and Turkcell investors should be able to look forward