Turkcell Makes for a Good International Emerging Telecom Play

Turkcell (TKC) is a Turkish wireless and telecommunications provider - the only Turkish ADR to trade on the NYSE. Turkey is a key emerging market, that is not talked about enough (which is a good thing actually). With a business friendly environment and financial markets that are being moulded for EU membership, Turkey is a great place to put money and one of the few ways to do it here in the US is by investing in Turkcell. At a mere 12 times forward earnings and a generous dividend of almost 3%, the company looks fairly discounted when you consider the $2 plus billion annual cashflow and 40% earnings growth.

There are political risks involved in putting money in Turkish equities, but the rewards are high. The stock has been performing quite well with gains of over 60% over the last 52 weeks.