Introduction
Telecom mergers and acquisitions in Turkey require a much deeper legal review than ordinary corporate acquisitions. A telecom target is not only a company with customers, employees, contracts and revenue. It may also hold BTK authorizations, usage rights, numbering resources, frequency rights, network infrastructure, electronic communications facilities, subscriber data, traffic records, consumer contracts, interconnection agreements, facility sharing rights, right-of-way permissions, cybersecurity obligations and regulatory reporting duties.
For this reason, telecom M&A due diligence in Turkey must combine corporate law, telecommunications regulation, competition law, data protection, cybersecurity, consumer protection, infrastructure law, employment law, tax, commercial contracts and technology review. A buyer that only checks financial statements and share registers may miss the most important risks: loss of authorization, non-compliant infrastructure, hidden BTK sanctions, unreported CEVHER changes, consumer complaints, unlawful data processing, spectrum issues, unpaid regulatory fees or merger control approval requirements.
The main telecom regulator is the Information and Communication Technologies Authority, known as BTK. BTK states that Law No. 5809 on Electronic Communications covers regulation, authorization, inspection and reconciliation activities relating to electronic communications services, devices and systems. The main competition authority is the Turkish Competition Authority, which updated the merger and acquisition legislation in 2026, including amendments to Communiqué No. 2010/4 and related notification forms and guidelines.
This guide explains the key legal, regulatory and commercial due diligence issues in telecom mergers and acquisitions in Turkey. It is designed for strategic buyers, private equity funds, telecom operators, infrastructure companies, ISPs, MVNOs, data center investors, foreign investors, technology companies and legal teams preparing acquisition, merger, share transfer, asset transfer or joint venture transactions in the Turkish telecom sector.
Why Telecom M&A Is Different from Ordinary M&A
Telecom companies operate in a regulated sector because electronic communications services are closely connected to public order, national security, consumer protection, competition, emergency communications, data protection and network continuity. BTK’s audit page states that operators are monitored under Law No. 5809 for compliance with license terms, equipment standards, sector legislation and spectrum use, and that sanctions can be imposed where operators fail to comply with regulations.
This means that acquiring a telecom company is not only a question of acquiring shares or assets. The buyer must understand whether the target may continue operating after closing, whether regulatory approvals or notifications are needed, whether the target’s authorizations remain valid, whether its shareholder and management structure satisfies BTK conditions, whether there are unresolved sanctions, and whether the transaction triggers Turkish merger control approval.
Telecom M&A also involves operational continuity. If the acquired company provides internet access, mobile services, fiber infrastructure, fixed telephone services, satellite communication, hosting, data center connectivity or electronic communications infrastructure, any disruption may affect thousands of subscribers. Therefore, transaction planning must include regulatory continuity, customer migration, network integration, data security and post-closing reporting.
Main Legal Framework
The main legal framework for telecom M&A in Turkey includes Law No. 5809 on Electronic Communications, BTK authorization rules, BTK CEVHER procedures, competition law, Communiqué No. 2010/4 on mergers and acquisitions requiring Competition Board authorization, personal data protection law, cybersecurity rules, consumer protection legislation, Law No. 5651, right-of-way rules, facility sharing regulations and general Turkish corporate law.
BTK’s “Services Subject to Authorization” page states that electronic communications, electronic communications infrastructure, infrastructure operation, electronic communications service and electronic communications network can be carried out by obtaining authorization from BTK. The same page defines electronic communications broadly as the transmission, sending and reception of signs, symbols, sound, images and data through transmission systems.
This broad definition matters in M&A because a target may be regulated even if it does not present itself as a traditional telecom operator. A company operating fiber infrastructure, internet access services, cloud communication, satellite connectivity, public Wi-Fi, IoT connectivity, data transmission or hosting-related connectivity may have telecom regulatory exposure.
Transaction Structures in Telecom M&A
Telecom M&A transactions may take several forms. The buyer may acquire shares of an authorized telecom operator, purchase telecom assets, acquire customer portfolios, purchase fiber routes, buy spectrum-related businesses, acquire data centers with connectivity operations, invest in an ISP, form a joint venture with a network operator or acquire control over an MVNO.
Each structure has different legal consequences. A share acquisition may preserve existing contracts and authorizations but may trigger change-of-control analysis, CEVHER updates, shareholder eligibility review and competition approval. An asset acquisition may require transfer of customer contracts, network assets, right-of-way permissions, numbers, infrastructure records, equipment, employees and regulatory rights. A joint venture may require competition review and may need its own BTK authorization if it will provide regulated services.
The transaction structure should be selected after regulatory due diligence, not before. A buyer may prefer an asset deal for liability isolation, but telecom assets may not be easily separated from authorizations, customer contracts, network obligations and public-law permissions. Conversely, a share deal may appear simpler, but it may carry historical sanctions, unpaid fees, consumer claims and data protection liabilities.
BTK Authorization Due Diligence
The first and most important due diligence item is the target’s BTK authorization status. The buyer should identify every authorization held by the target, including internet service provider authorization, infrastructure operation authorization, fixed telephone service authorization, satellite communication authorization, virtual mobile network service authorization, data transmission authorization, hosting-related notifications or other sectoral permissions.
The review should answer these questions:
What authorization types does the target hold?
Are the services actually provided within the authorization scope?
Has the target provided any service outside its authorization?
Are there any usage rights for numbers, frequencies or satellite positions?
Are there any pending renewal, adequacy or year-end obligations?
Has BTK issued warnings, sanctions or information requests?
Are CEVHER records complete and updated?
Has the target paid all regulatory fees?
Has the target met capital and eligibility requirements?
BTK’s CEVHER guidance states that initial authorization, additional authorization, renewal, adequacy control and operator information updates are conducted through the CEVHER System. It also states that changes in information submitted by authorized operators must be notified through the Operator Information Update tab, and supporting documents must be uploaded where required.
Therefore, in a telecom acquisition, the buyer should not rely only on a certificate or management statement. It should review CEVHER records, BTK correspondence, official filings, supporting documents and any pending regulatory process.
Corporate Eligibility and Capital Requirements
BTK authorization depends on corporate eligibility. BTK’s CEVHER guidance states that applicants must generally be limited liability companies or joint-stock companies established solely for activities subject to authorization or activities necessary to provide the authorized service. The articles of association must include electronic communications or telecommunications service activities, and unrelated activities should not be included in the purpose and subject section.
BTK also requires shareholder and management eligibility. Its guidance refers to restrictions involving certain criminal convictions for real person shareholders holding at least ten percent, persons authorized to manage and represent the legal entity and certain shareholders in legal entity shareholders.
The paid-in capital requirement is also critical. BTK guidance states that paid-in capital must be TRY 2,500,000 for OKTH authorization and TRY 10,000,000 for other authorizations under BTK Board Decision dated 10 March 2026 and numbered 2026/DK-YED/71.
In M&A transactions, these requirements matter because the buyer’s acquisition may change the shareholder and management structure. If the buyer introduces new shareholders, directors or authorized representatives who do not satisfy BTK conditions, regulatory problems may arise. Therefore, buyer-side due diligence should include not only the target but also the buyer’s proposed post-closing structure.
CEVHER Updates and Post-Closing Notifications
Telecom M&A should include a post-closing regulatory action plan. BTK’s CEVHER guidance requires authorized operators to notify changes in information submitted to BTK through the CEVHER System and to upload supporting documents where document submission is required.
This means that after closing, the target may need to update CEVHER records regarding shareholders, managers, representatives, addresses, KEP information, trade registry records, capital, authorization-related documents and other relevant information. The share purchase agreement should allocate responsibility for these filings.
The buyer should also consider whether any pre-closing BTK notification or approval is necessary depending on the transaction type, authorization scope, change of control, usage rights, tender-based rights or other specific regulatory conditions. Where uncertainty exists, regulatory counsel should review the relevant authorization documents and BTK practice before signing or closing.
A well-drafted telecom M&A agreement should include conditions precedent, regulatory cooperation clauses, signing-to-closing covenants, no-regulatory-breach covenants, post-closing filing obligations and indemnities for pre-closing non-compliance.
Competition Law and Merger Control
Telecom transactions may trigger Turkish merger control approval. Communiqué No. 2010/4 determines which mergers and acquisitions require notification to and authorization from the Competition Board in order to gain legal validity under Article 7 of Law No. 4054.
The Turkish Competition Authority announced in February 2026 that merger and acquisition legislation was updated, including important amendments to Communiqué No. 2010/4, the notification form and several guidelines. Current commentary on the 2026 amendments states that the standard thresholds were increased: aggregate Turkish turnover of transaction parties exceeding TRY 3 billion and Turkish turnover of at least two transaction parties each exceeding TRY 1 billion; alternatively, in acquisitions, Turkish turnover attributable to the target assets or activities exceeding TRY 1 billion and worldwide turnover of at least one other party exceeding TRY 9 billion.
For technology undertakings established in Turkey, the 2026 framework preserved a lower threshold mechanism. Current commentary states that the standard individual Turkish turnover threshold of TRY 1 billion does not apply to acquisitions involving technology undertakings established in Turkey, and a reduced TRY 250 million threshold remains relevant.
Telecom M&A often overlaps with digital markets, software, cloud services, fintech, data centers, platforms, IoT and network infrastructure. Therefore, competition analysis should not be limited to traditional telecom market shares. The buyer should review whether the target is a technology undertaking, whether the transaction creates horizontal overlap, whether it creates vertical integration, whether network access may be restricted, whether wholesale customers may be foreclosed and whether data advantages may affect competition.
Change of Control and Regulatory Conditions
A telecom M&A deal may create a change of control even if the legal form is not a full acquisition. Control may arise through majority shareholding, veto rights, board appointment rights, strategic decision rights, management agreements, shareholder agreements, financing arrangements or joint control mechanisms.
In telecom deals, change-of-control analysis matters for both competition law and sector regulation. A transaction that does not transfer one hundred percent of shares may still change decisive influence. A minority investor may acquire control if it obtains veto rights over budget, business plan, network investment, senior management, market strategy or regulatory decisions.
The due diligence report should identify all existing shareholder agreements, voting arrangements, privileged shares, veto rights, call options, put options, drag-along rights, tag-along rights, convertible instruments and debt covenants. It should also review whether these arrangements have been disclosed to BTK or whether post-closing updates are needed.
Spectrum, Frequency and Numbering Rights
Telecom targets may hold scarce public resources such as numbers, frequencies or satellite positions. BTK’s authorization regime distinguishes notification-based authorization from usage rights where scarce resources are involved. BTK’s CEVHER guidance also includes forms and documents relating to usage rights and number allocation.
In due diligence, the buyer should identify all numbering resources, frequency usage rights, radio permissions, satellite-related rights, base station permissions, spectrum obligations and technical limitations. It should verify whether the target uses these resources lawfully, whether fees have been paid, whether there are interference complaints, whether equipment is compliant and whether rights are transferable or tied to specific authorizations.
Numbering resources may be especially important for fixed telephone services, MVNOs, call centers, cloud communication providers and VoIP services. Frequency rights may be critical for mobile, wireless broadband, satellite, radio link and IoT networks. Any defect in these rights may materially affect valuation.
Infrastructure, Fiber and Right-of-Way Due Diligence
Telecom acquisitions frequently involve physical infrastructure: fiber routes, ducts, poles, cabinets, base stations, data centers, towers, network rooms, transmission equipment, routers, switches, landing points, cable routes and customer premises equipment.
The buyer should review ownership and access rights for every critical asset. Does the target own the fiber or lease it? Does it have right-of-way permissions? Are municipal permits complete? Are duct-sharing agreements valid? Are there unresolved damage claims? Are infrastructure records accurate? Are assets registered in EHABS where required?
Infrastructure due diligence should include technical maps, GIS records, route drawings, right-of-way agreements, facility sharing contracts, municipal permits, construction contracts, maintenance records, insurance policies and outage history.
A telecom infrastructure asset may be valuable only if it is legally usable. Fiber installed without proper permission, ducts used without valid agreements or base stations lacking necessary documents may create serious post-closing risk.
Facility Sharing and Wholesale Access
Facility sharing is a key issue in telecom M&A. BTK explains that facility sharing means access, for a fee, to passive infrastructure such as pipes, ducts and poles owned by electronic communications network operators, and emphasizes that sharing existing facilities supports efficient next-generation broadband deployment and avoids duplicate investments.
A buyer should review whether the target is a provider or recipient of facility sharing. If the target depends heavily on third-party ducts, poles, tower sites or wholesale access, the transaction value depends on the continuity of those agreements. If the target owns passive infrastructure, the buyer should review whether it has access obligations toward other operators and whether pricing or refusal practices create competition risk.
Wholesale contracts should be reviewed for change-of-control clauses, termination rights, exclusivity, most-favored-customer clauses, capacity commitments, service levels, maintenance obligations and regulatory change provisions.
Consumer Contracts and Subscriber Base
In many telecom acquisitions, the subscriber base is the most important asset. However, subscriber contracts may also be the biggest risk. The buyer should review whether consumer contracts comply with BTK consumer rules, whether tariffs and campaigns were lawfully approved, whether commitment periods and early termination fees are transparent, whether cancellation procedures are lawful and whether there are mass consumer complaints.
Telecom consumer risks may include:
Unauthorized subscriptions.
Improper identity verification.
Incorrect invoices.
Unlawful value-added service charges.
Misleading campaign promises.
Excessive early termination fees.
Continued billing after cancellation.
Poor internet speed or coverage.
Unresolved number portability complaints.
Inadequate complaint handling.
A high subscriber count is not always positive. If the subscriber base was built through aggressive campaigns, unauthorized dealer practices or unclear commitments, the buyer may inherit refund claims, BTK complaints and reputational damage.
Dealer, Agent and Distribution Network Due Diligence
Telecom operators often rely on dealers, franchise stores, sales agents, call centers, online channels and subcontractors. These networks can create major risk. A dealer may open unauthorized lines, misuse identity documents, misrepresent tariffs, activate value-added services without consent, fail to verify corporate authority or create false subscriber records.
The buyer should review dealer agreements, commission structures, audit reports, complaint records, disciplinary actions, fraud investigations, identity verification records and termination rights. High sales growth driven by dealer misconduct may collapse after closing and generate regulatory exposure.
The share purchase agreement should include warranties on dealer compliance, subscriber authorization, consumer approvals, personal data processing and absence of systemic fraud.
KVKK and Data Protection Due Diligence
Telecom targets process large volumes of personal data. This may include subscriber identity data, phone numbers, addresses, IP addresses, traffic data, location-related data, billing records, call recordings, customer complaints, device identifiers, SIM/eSIM data, payment records and employee data.
Data protection due diligence should identify whether the target is compliant with KVKK, whether privacy notices are complete, whether data processing inventories exist, whether explicit consents are valid where required, whether cross-border transfers are lawful, whether data retention periods are defined, whether data subject requests are handled properly and whether any data breach occurred.
KVKK’s standard contracts page lists standard contract models for transfers abroad, including controller-to-controller, controller-to-processor, processor-to-processor and processor-to-controller transfers. This is important in telecom M&A because targets may use foreign cloud systems, global support centers, foreign vendors, group companies or cross-border analytics tools.
A buyer should also review whether subscriber data may be transferred to the buyer after closing. In a share deal, the controller may remain the same legal entity, but control changes. In an asset deal, subscriber data transfer may require separate legal analysis and customer notices.
Cybersecurity and Network Security Due Diligence
Telecom targets are cybersecurity-sensitive businesses. They may operate critical networks, hold subscriber databases, manage authentication systems, process traffic data, maintain routers and switches, provide internet access, host customer systems or support corporate connectivity.
BTK’s audit page emphasizes that telecom services are public services by nature and that network security and continuity are important for national security and public order. It also states that BTK may supervise operators financially, technically, legally and administratively and request information and documents.
Cybersecurity due diligence should review:
Network architecture.
Access controls.
Privileged accounts.
Incident response plans.
Past breaches.
DDoS history.
Penetration tests.
Vulnerability reports.
Backup systems.
Disaster recovery.
Vendor access.
SOC and logging.
Regulatory breach notifications.
Ransomware readiness.
A telecom acquisition should include technical cybersecurity review, not only legal document review. Hidden cybersecurity weaknesses may become post-closing liabilities.
Law No. 5651 and Internet Obligations
Telecom targets providing internet access, hosting, public Wi-Fi or related online services may have obligations under Law No. 5651. The buyer should identify whether the target is an access provider, hosting provider, content provider, public internet use provider or a combination of these roles.
Due diligence should review hosting notifications, traffic data retention, access-blocking compliance, official request procedures, log integrity, public Wi-Fi user identification, filtering systems and vendor arrangements.
In telecom M&A, Law No. 5651 issues often arise in ISP acquisitions, data center acquisitions, public Wi-Fi businesses, hosting providers, CDN businesses and cloud platforms. Non-compliance may create administrative, criminal investigation and reputational risks.
Employment and Key Personnel
Telecom companies depend on technical teams, regulatory staff, network engineers, customer service teams, field technicians, cybersecurity personnel and dealer management teams. A buyer should identify key employees and whether they are likely to remain after closing.
Employment due diligence should review employment contracts, non-compete clauses, confidentiality obligations, union issues, overtime liabilities, subcontracted field teams, occupational health and safety compliance, call center employees and outsourced technical support.
In infrastructure-heavy acquisitions, field teams and network engineers may be critical for continuity. If key employees leave after closing, the buyer may struggle to operate the network or respond to outages.
Material Contracts
Telecom targets may have numerous material contracts. These include interconnection agreements, wholesale access agreements, fiber lease agreements, facility sharing agreements, tower leases, data center contracts, cloud service contracts, device supply contracts, dealer agreements, customer contracts, enterprise SLAs, vendor agreements, maintenance contracts, software licenses and outsourcing agreements.
Each material contract should be reviewed for:
Change-of-control consent.
Assignment restrictions.
Termination rights.
Exclusivity.
Minimum purchase commitments.
Service levels.
Penalty clauses.
Regulatory compliance obligations.
Data processing clauses.
Cybersecurity obligations.
Liability limitations.
Force majeure.
Governing law and dispute resolution.
A telecom deal may fail commercially if key wholesale or infrastructure contracts can be terminated after change of control.
Financial and Regulatory Fee Due Diligence
Telecom targets may have sector-specific fees, administrative payments, usage right fees, numbering fees, spectrum fees, universal service-related obligations, contributions, taxes, municipal fees, right-of-way fees and other regulatory costs.
The buyer should review whether all fees have been paid, whether there are late payment risks, whether revenue has been correctly reported and whether regulatory liabilities are properly reflected in the financial statements.
Financial due diligence should also analyze revenue quality. Telecom revenue may be affected by churn, unpaid invoices, disputed bills, campaign discounts, dealer commissions, bad debt, prepaid balances, refunds and regulatory price constraints.
Representations, Warranties and Indemnities
Telecom M&A agreements should include sector-specific representations and warranties. General corporate warranties are not enough.
Important telecom warranties include:
The target holds all required BTK authorizations.
All services are provided within authorization scope.
CEVHER records are accurate and updated.
No authorization cancellation risk exists.
All regulatory fees have been paid.
No undisclosed BTK investigation exists.
No unauthorized spectrum or numbering use exists.
Consumer contracts comply with law.
Subscriber approvals are valid.
KVKK compliance is maintained.
No undisclosed data breach exists.
Law No. 5651 obligations are satisfied.
Material network assets are legally usable.
Facility sharing and right-of-way agreements are valid.
No systemic dealer fraud exists.
Indemnities should cover pre-closing regulatory sanctions, consumer claims, data breaches, authorization defects, unpaid fees, illegal infrastructure and undisclosed litigation.
Conditions Precedent and Closing Mechanics
Telecom transactions often require conditions precedent. These may include Competition Board approval, BTK notification or approval where required, third-party consents, lender consents, change-of-control consents, completion of CEVHER updates, settlement of regulatory debts, renewal of critical contracts, correction of corporate documents or remediation of specific compliance issues.
Closing should not occur until mandatory approvals are obtained. Under Turkish merger control, a transaction subject to Competition Board approval should not be closed before clearance. For telecom regulation, the buyer should ensure that all sectoral conditions are satisfied and that post-closing operations will not violate BTK rules.
The transaction timetable should therefore include regulatory filing preparation, information gathering, authority review periods, remedy discussions if needed and integration planning.
Post-Closing Integration
Post-closing integration is especially sensitive in telecom deals. Network integration, customer migration, data migration, billing system integration, tariff harmonization, dealer integration, employee transfer, cybersecurity alignment and regulatory reporting must be managed carefully.
The buyer should prepare a 100-day telecom integration plan covering:
CEVHER updates.
BTK correspondence.
Competition commitments.
Customer notifications.
Contract assignment.
Data migration.
Cybersecurity controls.
Dealer audits.
Network continuity.
Billing accuracy.
Complaint handling.
Regulatory fee calendar.
KVKK documentation.
Law No. 5651 procedures.
Post-closing mistakes can destroy deal value. For example, a billing migration error may create thousands of consumer complaints. A network integration failure may cause outages. A data migration error may cause a KVKK breach.
Practical Telecom M&A Due Diligence Checklist
A buyer should review the following:
BTK authorization certificates and scope.
CEVHER records and updates.
Shareholder and management eligibility.
Paid-in capital compliance.
BTK correspondence and sanctions.
Regulatory fee payments.
Competition filing requirement.
Spectrum, number and usage rights.
Infrastructure ownership and route maps.
Right-of-way permissions.
Facility sharing contracts.
Wholesale access agreements.
Interconnection agreements.
Consumer contracts.
Enterprise SLAs.
Dealer agreements.
Subscriber complaint records.
KVKK compliance files.
Cross-border data transfers.
Cybersecurity reports.
Past data breaches.
Law No. 5651 obligations.
Material litigation.
Employment and subcontractor risks.
Insurance.
Tax and financial liabilities.
Change-of-control consents.
Post-closing regulatory filings.
Conclusion
Telecom mergers and acquisitions in Turkey require sector-specific regulatory due diligence. The buyer must understand not only the target’s financial performance but also its legal ability to continue operating. BTK authorization, CEVHER records, shareholder eligibility, regulatory fees, usage rights, spectrum, numbering, infrastructure permissions, consumer contracts, data protection, cybersecurity, Law No. 5651 obligations and competition approval are all central to transaction risk.
The 2026 updates to Turkish merger control rules make competition analysis especially important. Telecom, digital infrastructure, cloud, software, platform, IoT and data center acquisitions may fall within general thresholds or technology undertaking-related rules depending on the transaction.
The biggest risk in telecom M&A is assuming that a telecom company can be acquired like an ordinary commercial company. In reality, the value of the target depends on the validity of its authorizations, the legality of its infrastructure, the quality of its subscriber base, the security of its data, the reliability of its network and the absence of regulatory defects.
A well-managed telecom acquisition should combine legal, regulatory, technical, cybersecurity, financial and commercial due diligence. The transaction documents should include sector-specific conditions precedent, warranties, covenants and indemnities. Post-closing integration should be planned before signing. Companies that follow this approach will reduce regulatory risk, protect deal value and create a stronger foundation for sustainable telecom investment in Turkey.
Frequently Asked Questions
Does a telecom acquisition in Turkey require BTK review?
It may require BTK notification, update or approval depending on the authorization type, change of control, shareholder changes, usage rights and transaction structure. BTK requires authorized operators to update changes in submitted information through the CEVHER System.
What is CEVHER?
CEVHER is BTK’s online system for initial authorization, additional authorization, renewal, adequacy control and operator information updates.
What telecom activities require authorization?
BTK states that electronic communications, electronic communications infrastructure, infrastructure operation, electronic communications service and electronic communications networks may be carried out by obtaining authorization from the Authority.
What are the main BTK corporate requirements?
BTK guidance requires, among other things, a suitable limited or joint-stock company structure, telecom-specific articles of association, shareholder and management eligibility and minimum paid-in capital.
What are the current Turkish merger control thresholds?
Following the 2026 amendments, current commentary states that notification may be required where aggregate Turkish turnover exceeds TRY 3 billion and at least two parties each have Turkish turnover exceeding TRY 1 billion; alternatively, certain acquisition/merger structures may be notifiable where Turkish turnover exceeds TRY 1 billion and another party’s worldwide turnover exceeds TRY 9 billion.
Are telecom and technology acquisitions subject to special competition scrutiny?
They may be. The 2026 framework preserved a lower threshold mechanism for acquisitions involving technology undertakings established in Turkey, with commentary indicating that a TRY 250 million threshold remains relevant for such targets.
What is the most important due diligence item in telecom M&A?
The most important item is whether the target holds valid authorizations and provides all services within the scope of those authorizations. Without regulatory continuity, the commercial value of the target may be severely reduced.
Does KVKK matter in telecom acquisitions?
Yes. Telecom companies process large volumes of personal data, including subscriber identity data, IP addresses, traffic-related data, billing records, location-related data and call center records. Cross-border transfers and standard contract mechanisms should also be reviewed.
Should cybersecurity be part of telecom due diligence?
Yes. Telecom services are sensitive for network continuity, public order and customer protection. BTK may supervise operators technically, legally, financially and administratively and request information and documents.
What should be included in telecom M&A transaction documents?
The agreement should include telecom-specific conditions precedent, regulatory cooperation clauses, CEVHER update obligations, BTK and competition law covenants, sector-specific warranties, data protection warranties, cybersecurity warranties and indemnities for pre-closing regulatory breaches.
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