土耳其移动通信5G商用计划与业务增长引关注

Company Project Advancement - The company has successfully secured a 5G spectrum auction, ensuring a maximum capacity of 160 MHz for a single operator, with plans to officially launch 5G commercial services in April 2026. This move may open new business opportunities in smart cities and connected factories, facilitating the company's transition from traditional telecom services to digital upgrades [1]. Company Business Status - Digital business revenue grew by 97% year-on-year in Q3 2025, with data center and cloud revenue increasing by 51%. The company plans to further strengthen its leadership in this area [2]. - The payment plan for the 5G auction will be staggered in 2026, with the net leverage ratio expected to remain below 1. The second phase of dividends was initially scheduled for Q4 2025, with a target of distributing 50% of net profits for future dividend policies [2]. Industry Policy and Environment - Turkey's inflation rate rose to 30.65% year-on-year in January, which may affect market expectations for monetary policy stability and indirectly impact the attractiveness of assets, including the telecom sector [2]. - The Turkish Competition Authority initiated an antitrust investigation against Google on February 4, 2026. Although this does not directly target telecom operators, it may affect mobile ecosystem collaborations and pre-installation agreements [2]. Stock Recent Performance - On February 11, 2026, the stock price increased by 3.06%, driven by solid fundamentals such as net user growth and ARPU improvement, with a year-to-date increase of 26.42%. However, low liquidity (small float) may amplify volatility [3].