Tellza Communications Inc. (TSX:TEL) exercised its right to acquire 9.99% stake in Merkez Factoring A.S. for $0.7 million in cash on March 16, 2016. Tellza has the further right to acquire up to 49% of Merkez prior to December 31, 2016, subject to the approval of the Banking Regulatory Supervisory Agency of Turkey. Merkez has total assets TRY 76 million ($26.08 million) and turnover of TRY 19 million ($6.52 million) in the year 2015.

Tellza Communications Inc. (TSX:TEL) completed the acquisition of 9.99% stake in Merkez Factoring A.S. in March 2016.