Thu Sep 26 12:57:18 UTC 2024: ## HSBC Reduces Stake in Turkish Telecom Giant Turkcell

**New York, NY – September 26, 2024** – HSBC Holdings PLC has reduced its stake in Turkish telecommunications company Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) by 9.7% during the second quarter, according to its latest 13F filing. The fund now holds 329,027 shares, valued at $2,483,000.

While HSBC decreased its holdings, other institutional investors have increased their stakes in Turkcell. Vanguard Personalized Indexing Management LLC grew its position by 10.1%, Caprock Group LLC by 319.0%, Sivia Capital Partners LLC by 9.7%, and Ritholtz Wealth Management by 3.3%. Atlas Capital Advisors LLC also acquired a new stake in the company during the second quarter.

Separately, StockNews.com upgraded its rating on Turkcell shares from “hold” to “buy” on Monday. The company’s shares opened at $7.06 on Thursday, with a market cap of $6.21 billion.

Turkcell provides digital services in Turkey, Ukraine, Belarus, Turkish Republic of Northern Cyprus, and the Netherlands. Its services include mobile communications, fixed business internet, customer loyalty programs, digital business solutions, and cloud services.

Analysts and investors are closely watching Turkcell’s performance as it continues to navigate the evolving telecommunications landscape.

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