TeliaSonera: We to Grow Stronger with Turkcell

Igel pointed out that Turkcell is the leading operator in Turkey with over 20 million subscribers and reminded that it also has operations in the Turkish Republic of Northern Cyrus (TRNC) and Ukraine. Scandinavian telecommunication giant TeliaSonera had previously bought 27 percent of the shares on the stock market for $3.1 billion and has now reached an agreement with the Cukurova Group to increase its shares to 64. 3 percent. Igel held a teleconference in the Swedish capital Stockholm to respond to questions. Both TeliaSonera and Turkcell benefit from this sale, he said, and underlined that they will continue in this strong position.

TeliaSonara’s CEO highlighted that they insist the Turkish Capital Markets Board (SPK) exempt them from liability call. Igel recorded that the sale procedure will be affected if there were no exemption, but they keep their hopes that the matter will be resolved favorably. The Cukurova Group will continue to be the local shareholder of Turkcell with 13.5 percent of the shares, Igel remarked, saying that a new independent administration board would be formed in Turkcell.

Meanwhile, Cukurova Holding has announced that Turkcell Holding is purchasing shares from Yapi Kredi Bank, and then selling them to TeliaSonera.