ADVFN - Advanced Financial Network.
HOME» NYSE » T » TKC Stock Price » TKC Stock News

Turkcell Ilet Share News

 Turkcell Iletisim Hizmetleri As Stock Price
TKC Stock Price
 Turkcell Iletisim Hizmetleri As Stock Chart
TKC Stock Chart
 Turkcell Iletisim Hizmetleri As Stock News
TKC Stock News
 Turkcell Iletisim Hizmetleri As Company Information
TKC Company Information
 Turkcell Iletisim Hizmetleri As Stock Trades
TKC Stock Trades

TeliaSonera Regrets Postponement of Turkcell AGM, Supports Dividend

By Dominic Chopping STOCKHOLM--Swedish telecom operator TeliaSonera AB (TLSN.SK) said Friday it regrets the postponement of the Turkcell AGM and provides its full support to distributing dividends for both 2010 and 2011 to the shareholders, as well as adding more independent members to the Board of Directors. MAIN FACTS: -Cecilia Edstrom, Senior Vice President and Head of Group Communications, says: "The decision to distribute dividends for 2010 is long overdue and we regret that shareholders have to continue waiting for their rightful dividend payments." -"The reason for the delay is that a shareholders' meeting has not been successfully completed since 2010, as one of the main shareholders, Cukurova, are blocking important decisions." -The Turkcell shareholders' meeting failed to convene today, as there was no quorum. This is due to the fact that Cukurova and Altimo have failed to agree on a number of important issues. -As shareholders in Cukurova Telecom Holding, Altimo and Cukurova are bound by a shareholders' agreement that prevents each party from voting on matters of importance to Turkcell, unless both parties agree. -Cukurova and Altimo together represent a majority of the votes in Turkcell Holdings, which represent 51% of the votes in Turkcell, and as they could not agree there was no quorum at the Turkcell AGM. -"We regret these developments and believe that increasing the number of independent Board members to four out of ten members would significantly improve corporate governance in Turkcell, fully in line with CMB's requirements." -"However, this has been consistently rejected by Cukurova, as it would undermine their blocking position." -"By increasing the number of independent board members to four out of ten and applying a simple majority, Cukurova acting alone would no longer be able to block majority decisions at the Board. This is clearly not in their interest, but it is good corporate governance". -At 0952 GMT shares traded 0.6% higher at SEK43.37. -Write to Dominic Chopping at dominic.chopping@dowjones.com

Stock News for Turkcell Ilet (TKC)
DateTimeHeadline
02/05/201409:52:08Turkcell Shareholder Cukurova Gets Extension on Payment to Alfa...
01/02/201409:04:15Turkcell Says Faces TRY527.7 Million Tax Demand and Fine
11/15/201309:01:37HBK Investments LP 3Q 13F: Largest Eliminations
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Purchases
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Sales
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Eliminations -2-
08/16/201306:53:36Turkish Regulators Move to End Turkcell Quagmire
07/29/201311:55:22UK Court Grants Turkcell's Stakeholder Cukurova Extension to...
07/16/201309:02:12Turkcell Holder Cukurova Seeks Extension For $1.56 Billion Alfa...
07/16/201306:15:09Turkey's Regulator to Appoint Two Board Members to Turkcell
07/09/201310:13:11TeliaSonera Welcomes UK Court Decision on Turkcell
07/09/201306:09:58Turkcell Majority Stake to Cost Cukurova $1.56 Billion, UK Court...
06/24/201306:24:16TeliaSonera: Regrets Turkcell's Failed AGM
05/29/201311:36:08Turkcell To Hold Postponed Annual General Meeting on June 24
05/14/201306:56:13Turkcell Seeks Board Approval to Distribute At Least 50% of Profit...
04/17/201305:16:38Turkcell to Hold General Assembly on May 22
03/12/201306:04:12Turkey's Regulator Appoints Three Independent Board Members to...
03/04/201305:54:11SUBSCRIBERS: Please Disregard Headline on Turkcell Majority Stakeholders
01/30/201307:48:22Turkcell Controlling Stakeholder Cukurova Could Redeem Shares...
10/30/201211:31:54MTN Uganda Executives On Trial Over $27 Million Tax Scam

Turkcell Ilet and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad