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Turkcell EGM to Be Postponed Amid Shareholders' Disagreement

By Sven Grundberg STOCKHOLM--Swedish telecommunications company TeliaSonera AB (TLSN.SK) said Tuesday the extraordinary general meeting of its affiliate Turkcell Iletisim Hizmetleri AS (TKC) has been postponed. TeliaSonera spokeswoman Ceclilia Edstrom said the postponement was caused by a disagreement between shareholders Altimo, the telecommunications arm of Russian industrial conglomerate Alfa Group, and Cukurova, the conglomerate controlled by controversial Turkish businessman Mehmet Karamehmet. The EGM had been scheduled for June 29. Ms. Edstrom added the disagreement relates to who is going to represent ‚ÄčTurkcell Holding A.S.--Turkcell's single largest shareholder, which is jointly owned by TeliaSonera, Altimo and Cukurova--at the meeting. TeliaSonera has for several years struggled to gain control over Turkcell, in which it has a 38% stake both directly through holding shares on the Turkish stock market and indirectly through its ownership in Turkcell Holding. The ownership conflict in Turkcell began when TeliaSonera attempted and 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 has the authority to block decisions. TeliaSonera wants to increase number of independent board members. 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 wrestle control of Turkcell from Cukurova together with Altimo. Write to Sven Grundberg at sven.grundberg@dowjones.com

Stock News for Turkcell Ilet (TKC)
DateTimeHeadline
05/15/201516:51:20Report of Foreign Issuer (6-k)
05/08/201512:38:00Turkcell Introduces a Multi-Sensory Smartphone Experience with...
04/30/201511:51:47Report of Foreign Issuer (6-k)
04/30/201504:22:09Turkcell Profit Hit By Forex Losses in Belarus, Ukraine
04/29/201514:29:00Turkcell Iletisim Hizmetleri First Quarter 2015 Results
04/20/201509:00:00Building on its 4G leadership, Turkcell Tests Enriched VoLTE
04/13/201512:51:07Report of Foreign Issuer (6-k)
04/09/201510:02:34Turkcell: Shareholder Dispute Makes Investors Underappreciate...
04/06/201509:08:00TurkeyâÄôs Southeastern Gem Gaziantep Gets Connected with Turkcell, J...
04/06/201505:15:57Fridman group to invest $16B in struggling tech and telecom companies
04/02/201509:36:03Sparring Over Turkcell Ownership Set to Continue
04/02/201506:53:53Report of Foreign Issuer (6-k)
03/31/201515:55:39Report of Foreign Issuer (6-k)
03/27/201506:57:36Report of Foreign Issuer (6-k)
03/26/201517:37:33Turkcell Holds First Shareholder Meeting Since 2011, Approves...
03/26/201516:54:10Turkcell Holds First Shareholder Meeting Since 2011, Approves...
03/25/201517:21:47Report of Foreign Issuer (6-k)
03/25/201513:22:57Report of Foreign Issuer (6-k)
03/16/201505:04:03Old Tricks: Benjamin Graham Still Works
03/11/201514:53:55Report of Foreign Issuer (6-k)

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