UPDATE 1-Merrill adds CTC, Turkcell to EEMEA most preferred list

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May 12 (Reuters) - Merrill Lynch added Russia's CTC Media (CTCM.O), Turkey's Turkcell (TCELL.IS) and Israel's Partner Communications (PTNR.TA) to its Eastern Europe, Middle East and, Africa telecom and media most preferred list, and said this list is intended to appeal to investors with a short-term view.

The brokerage said CTC Media remains its top pick among emerging European free-to-air broadcasters due to its exposure to the fastest growing advertising market in the world -- Russia.

Israel's second-largest mobile phone operator Partner Communications should benefit from an ongoing share buyback and an increasing revenue share, the brokerage added in a note to clients. The company has strength in the post paid market, it said.

Merrill said it replaced Morocco's Maroc Telecom (IAM.CS) with Kuwait's Mobile Telecommunications Co (ZAIN.KW) and added Czech broadcaster Central European Media Enterprises (CETV.O) to its least preferred list, saying the stock trades at a premium to its peers.

It also removed Polish telecom group TPSA TPSA.WA from its most preferred list. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Anil D'Silva)