UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
August 16, 2010
Commission File Number 001-15092
___________________________________________
TURKCELL ILETISIM HIZMETLERI A.S.
(Translation of registrant’s name into English)
Turkcell Plaza
Mesrutiyet Caddesi No. 153
34430 Tepebasi
Istanbul, Turkey
(Address of Principal Executive Offices)
___________________________________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes o No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes o No x
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-__________
Enclosure: A press release dated August 16, 2010 announcing an amendment to Turkcell’s Q2 2010 IFRS Report.
August 16, 2010
ANNOUNCEMENT REGARDING AN AMENDMENT
IN 2Q 2010 IFRS REPORT
With reference to our aging of trade receivables and due from related parties, as contained in Note 29 of our second quarter 2010 IFRS report, following a revision in our calculation methodology, our figures at June 30, 2010 are no longer directly comparable to such figures at December 31, 2009. We have recalculated our aging of trade receivables and due from related parties, accordingly and made certain other necessary adjustments. The revised figures are contained in the table below.
The aging of trade receivables and due from related parties as at 31 December 2009 in the unaudited consolidated interim financial statements as at June 30, 2010:
|
($ thousand)
|
31 December
2009
|
||||
|
Not past due
|
746,545 | ||||
|
1-30 days past due
|
38,406 | ||||
|
1-3 months past due
|
47,031 | ||||
|
3-12 months past due
|
81,310 | ||||
|
1-5 years past due
|
342 | ||||
| 913,634 | |||||
TURKCELL ILETISIM HIZMETLERI A.S.
For further information please e-mail to investor.relations@turkcell.com.tr
or call Turkcell Investor Relations (+ 90 212 313 1888)
1
|
29.
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Financial instruments
|
Credit risk
Exposure to credit risk:
The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:
|
Note
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30 June
2010
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31
December
2009
|
|||||||||||
|
Due from related parties-non current
|
33 | 6,676 | 21,039 | ||||||||||
|
Other non-current assets**
|
16 | 18,276 | 11,996 | ||||||||||
|
Available-for-sale financial assets
|
15 | 246 | 62,398 | ||||||||||
|
Due from related parties-current
|
33 | 102,542 | 108,843 | ||||||||||
|
Trade receivables and accrued income
|
18 | 831,875 | 783,752 | ||||||||||
|
Other current assets**
|
19 | 30,742 | 29,284 | ||||||||||
|
Cash and cash equivalents*
|
20 | 2,661,463 | 3,095,329 | ||||||||||
|
Time deposits maturing in 3 months or more
|
15 | 8,161 | - | ||||||||||
| 3,659,981 | 4,112,641 | ||||||||||||
* Cash in hand is excluded from cash and cash equivalents.
** Non-financial instruments such as prepaid expenses and advances given are excluded from other current assets and other non-current assets.
The maximum exposure to credit risk for trade receivables arising from sales transactions including those classified as due from related parties at the reporting date by type of customer is:
|
30 June
2010
|
31 December
2009
|
|||||||
|
Receivable from subscribers
|
756,463 | 710,747 | ||||||
|
Receivables from distributors and other operators
|
72,652 | 85,949 | ||||||
|
Other
|
2,760 | 1,312 | ||||||
| 831,875 | 798,008 | |||||||
The aging of trade receivables and due from related parties as at 30 June 2010 and 31 December 2009:
|
30 June
2010
|
31 December
2009
|
|||||||
|
Not past due
|
759,665 | 746,545 | ||||||
|
1-30 days past due
|
47,207 | 38,406 | ||||||
|
1-3 months past due
|
38,702 | 47,031 | ||||||
|
3-12 months past due
|
85,973 | 81,310 | ||||||
|
1-5 years past due
|
9,546 | 342 | ||||||
| 941,093 | 913,634 | |||||||
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Turkcell Iletisim Hizmetleri A.S. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
TURKCELL ILETISIM HIZMETLERI A.S.
|
||
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Date: August 16, 2010
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By:
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/s/ Koray Ozturkler
|
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Name:
|
Koray Ozturkler
|
|
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Title:
|
Chief Corporate Affairs Officer
|
|
TURKCELL ILETISIM HIZMETLERI A.S.
|
||
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Date: August 16, 2010
|
By:
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/s/ Nihat Narin
|
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Name:
|
Nihat Narin
|
|
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Title:
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Investor & Int. Media Relations - Division Head
|