Alfa bids USD 2.8 bln to raise stake in Turkcell

Tuesday 17 March 2015 | 09:23 CET | News
Russia's Alfa Telecom offered USD 2.8 billion to buy back a 13.76 percent stake of Turkcell, Reuters reports. The deal would double its holding in Turkey's top mobile operator after a seven-year battle for control of the company. Alfa Telecom said in a statement that it offered USD 54.9 million per share for 51 of Turkcell's class-B shares held with Turkey's state-run Ziraat Bank as collateral for a loan. Alfa has been locked in a battle with one of Turkcell's founder's, Mehmet Emin Karamehmet, for control of the mobile operator. Last year, a company controlled by Karamehmet, Cukurova

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Categories: Mobile & Wireless
Companies: Alfa / Turkcell
Countries: Turkey
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