TeliaSonera squares up to Cukurova

14 Oct 2003

Scandinavian telco TeliaSonera has launched legal action to cancel an extraordinary meeting called by Turkcell for 30 October. The meeting has been called at the request of the Cukurova group, Turkcell’s main domestic owner with a 42% stake, which has accused TeliaSonera, which owns 37.3% of the company, of obstructing key decisions and failing to understand the Turkish market. The EGM, if it goes ahead, is expected to see Cukurova attempt to remove TeliaSonera’s right of veto; Cukurova is believed to want Turkcell to acquire a number of its assets including Digiturk, Turkey’s digital TV broadcaster.

Turkey