Turkcell (TKC) Drops 6% Ahead of Govt 5G Frequency Tender

Group 1 - Turkcell Iletisim Hizmetleri AS (NYSE:TKC) experienced a significant share price decline of 6.26%, closing at $5.54, as investors sold off positions ahead of a government tender for 5G frequency development in Turkey [1] - The Information and Communication Technologies Authority (ICTA) is set to hold a tender on October 16 for mobile operators to provide 5G services starting in April 2026, which includes the renewal of existing licenses expiring in 2029 [2] - Turkcell has shown interest in participating in the upcoming bidding process alongside competitors Turk Telekom and Vodafone [3] Group 2 - The Turkish government plans to allocate 11 different frequency packages to operators, with a minimum total value of $2.125 billion for 400 MHz of frequency in the 700 MHz and 3.5 GHz bands [4]