17.09.2015 13:19
Turkcell would acquire all shares in Fintur, a telecommunications company operating in Kazakhstan, Azerbaijan, Georgia and Moldova.
Turkish mobile phone operator Turkcell said that it was considering acquiring some of the Eurasian assets of its shareholder TeliaSonera.
Turkcell is the minority shareholder in a joint venture with the Swedish company called Fintur, which operates telecommunications in Kazakhstan, Azerbaijan, Georgia and Moldova.
"In line with our growth strategy in the region and as the minority (41.45 percent) shareholder in Fintur in order to explore our strategic options to acquire the remaining stake in Fintur, we have initiated the process to appoint a strategic and financial advisor," Turkcell said in a statement filed with Borsa Istanbul.
TeliaSonera, which is one of Turkcell's major shareholders and also Turkcell's partner in Fintur with a 58.55 stake, announced on Thursday its initiation of a process of selling off its Eurasian assets. The countries TeliaSonera plans to exit include Nepal, Kazakhstan, Uzbekistan, Azerbaijan, Georgia, Moldova and Tajikistan.
Turkcell's shares have been traded on Istanbul Stock Exchange (Borsa Istanbul) and New York Stock Exchange (NYSE) since July 2000 and it is the first and only Turkish company ever to be listed on NYSE. The company is Turkey's largest mobile operator with nearly 35 million subscribers. - Ankara