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TeliaSonera Hopes To End Turkcell Boardroom Deadlock In June

STOCKHOLM -(Dow Jones)- Swedish telecom operator TeliaSonera AB (TLSN.SK) said Friday it hopes to resolve boardroom deadlock in its affiliate Turkcell Iletisim Hizmetleri AS (TCELL.IS) at the Turkish carrier's annual general meeting in late June. In a statement on Friday, Turkcell said it will hold its annual general meeting on June 29. "At the AGM we anticipate that Turkcell will decide to increase the number of independent board members, which would resolve the current boardroom deadlock," TeliaSonera spokeswoman Cecilia Edstrom said. TeliaSonera has for several years struggled to gain control over Turkcell, Turkey's largest carrier, in which it has a 38% stake. The ownership conflict in Turkcell began when TeliaSonera attempted and ultimately failed in 2005 to purchase the ownership stake held by Turkcell's founder, the controversial Turkish businessman Mehmet Karamehmet and his Cukurova conglomerate. Turkcell's board has six board members in addition to its chairman, who is able to block decisions. TeliaSonera wants the number of independent board members to increase. The Swedish carrier hopes that it will be able to replace Turkcell Chairman Colin Williams who, it says, isn't acting as an independent board member, and, together with Russia's Altimo, the telecommunications arm of Russian industrial conglomerate Alfa Group, wrestle control of Turkcell from Cukurova. -By Sven Grundberg, Dow Jones Newswires; +46-8-5451-3098; sven.grundberg@dowjones.com; Twitter: @svengrundberg

Stock News for Turkcell Ilet (TKC)
DateTimeHeadline
05/26/201608:08:00Corporate Social Responsibility Related News Releases and Story...
05/24/201607:30:00Turkcell Represents the Telecommunications Community in the World...
05/13/201609:28:00Making Technology Affordable at 4.5G Speed: Turkcell Unveils...
05/05/201616:40:00Foreign Telecom Firms Map Out Ukraine in Quest for New Markets
05/02/201611:22:46Report of Foreign Issuer (6-k)
04/29/201607:58:22Report of Foreign Issuer (6-k)
04/28/201610:58:00Turkcell Iletisim Hizmetleri: First Quarter 2016 Results
04/06/201602:00:00Cardtek Joins Forces with MV Holding and Revo Capital to Become...
04/05/201609:00:00Cardtek Joins Forces with MV Holding and Revo Capital to Become...
04/01/201614:59:29Amended Statement of Beneficial Ownership (sc 13d/a)
04/01/201604:30:00The Fastest of the Fastest: Turkcell Officially Launches 4.5G...
03/30/201611:22:35Report of Foreign Issuer (6-k)
03/29/201611:18:48Report of Foreign Issuer (6-k)
03/24/201609:35:15Report of Foreign Issuer (6-k)
03/23/201605:13:00With 10 Days to Go for Turkey’s 4.5G Launch, Turkcell Announces C...
03/18/201617:53:00Turkcell Files Its 2015 Annual Report on Form 20-F
03/18/201616:53:53Notice of Iran-related Disclosure Filed Pursuant to Section 13(r)(3...
03/18/201616:49:47Annual and Transition Report (foreign Private Issuer) (20-f)
03/10/201605:42:00Turkcell Holds Annual Technology Summit, Announces Customer Services...
03/07/201604:35:00Maya Foundation’s Work on Rehabilitating Syrian Children Becomes a...

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