Turkcell signs final deal for Ukraine partnership

The contract was signed by representatives of both parties during the Turkish- Ukraine Business Council meetings being held in Kiev by DEIK (The Foreign Economic Relations Board).

The signatures mark the start of the operational phase of the partnership. The signature ceremony was attended by Mr. Mehmet Emin Karamehmet, the President of Cukurova Holding A.S., Mr. Muzaffer Akpinar, Turkcell’s Chief Executive, and partners of DCC. The Prime Ministers of Turkey and Ukraine, Recep Tayyip Erdogan and Victor Yanukovich respectively, were also present at the ceremony.

As part of the agreement, Turkcell will hold a 51% stake in the new company after buying DCC shares owned by System Capital Management and Valeriy Grigorievich Stepanenko for US$50 million. Turkcell’s investment, together with its infrastructure and service expertise, is expected to increase DCC’s market share in Ukraine. DCC is currently the third largest mobile operator in Ukraine.

The agreement between Turkcell and DCC is finalized by the signing of the contract, which enables the transfer of shares between the partners.