Turkcell to submit binding bid for TeliaSonera’s Fintur stake

Turkcell will submit a binding offer for Sweden-based TeliaSonera’s 58.55% stake in wireless joint venture Fintur (inclusive of mobile operations in Kazakhstan, Azerbaijan, Georgia and Moldova), in a move to fully acquire the Eurasian subsidiary. In a statement to the Istanbul Stock Exchange, Turkcell also said it would submit a binding bid for TeliaSonera’s 24% direct stake in Kazakhstan operator K’cell.

As previously reported by TeleGeography’s CommsUpdate, in September 2015 Turkcell declared that it was looking to appoint a strategic and financial advisor to explore the possibility of full acquisition of Fintur. The decision followed TeliaSonera’s announcement that it had initiated a process to reduce, and over time fully exit, its presence in its Eurasian (CIS and Asian) markets.