Turkcell partner to increase share holding

In a press release issued by TeliaSonera management it was announced preliminary agreement had been reached to acquire a further 27.0 percent stake in Turkcell Iletisim Hizmetleri A.S. in a deal worth $3.1 billion.
However, the final sale is dependent on the Turkish Capital Markets Board issuing an exemption to the mandatory tender offer requirement that covers such deals.
The acquisition of the additional share holding from Turkcell’s parent company, Cukurova Holding, is expected to be finalised by the middle of the year, depending on whether there is no legal or regulatory objection to the sale.