TeliaSonera Will Protect Its Rights in Turkcell
24 June 2005 TeliaSonera's Turkish partner Cukurova, yesterday issued a statement about a finance arrangement with the Russian Alfa Group.
TeliaSonera has reviewed yesterday's disclosures issued by Cukurova Holding and Alfa Group regarding the interests in Turkcell Iletisim Hizmetleri.
TeliaSonera has sought clarification on the transaction from Cukurova. However, the transaction between Cukurova and Alfa is still unclear.
TeliaSonera believes Cukurova is required to fulfil the transaction agreed in March about Turkcell Holding shares and that it would be improper for Cukurova to engage in transactions involving Turkcell shares until the arbitration process around that transaction is finalized.
The arrangements between the shareholders of Turkcell Holding and its articles of association prohibit any third party from gaining an interest in Turkcell Holding or having any lien on interests in Turkcell Holding shares without the parties consent.
TeliaSonera will pursue all appropriate legal measures to protect its interests in regard to this situation. If Cukurova attempts to circumvent any agreement with TeliaSonera, TeliaSonera will take all necessary measures to protect its rights.
"It is unfortunate for Turkcell to be involved in additional uncertainties around the ownership situation in the company," comments TeliaSonera's President and CEO Anders Igel.
Source: PrimeZone
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