Turkey Wealth Fund Management Company agreed to acquire 55% stake in Türk Telekomünikasyon Anonim Sirketi (IBSE:TTKOM) from LYY Telekomünikasyon AS for $1.65 billion on March 10, 2022. Closing is subject to the fulfilment of the condition precedents in the SPA including approval of relevant regulatory authorities. As of March 21, 2022, the Information and Communication Technologies Authority has approved the transaction.