TeliaSonera/Turkcell debate continues

12 Dec 2003

Nordic telecoms group TeliaSonera has appealed against a decision to hold a key meeting over the future of Turkish mobile operator Turkcell, in which it holds a 37% stake, and has demanded that three independent members be added to the cellco’s board. TeliaSonera has been involved in an increasingly bitter row with the mobile operator’s other main shareholder, the Cukurova group which owns 42%, for several months, with the latter trying to strip the Finland-based company of its boardroom veto. As a result of the dispute Cukurova called for an extraordinary general meeting (EGM) to be held on 24 December, but TeliaSonera attacked this decision due to its closeness to Christmas, and a new date of 29 December has now been set.

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