Alfa Telecom ready to sell Turkcell stake for USD 2.7 bln

Monday 28 March 2016 | 12:34 CET | News
Russia's Alfa Telecom said it was prepared to sell a 13.22 percent indirect stake in Turkcell to Turkey's Cukurova and Ziraat Bank for a total of around USD 2.7 billion, writes Turkish publication Hurriyet Daily News citing a statement to the Istanbul stock exchange. Alfa, owned by Russian billionaire Mikhail Fridman, has been locked in a legal battle for almost a decade with equity partner Cukurova, run by Turkcell's founder Mehmet Emin Karamehmet. On 25 March, Alfa said it was willing to sell 49 class-A shares in Cukurova Telecom Holdings for USD 54.9 million per share, equivalent to 13.22

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Mobile & Wireless
Companies: Alfa / alfa telecom / Turkcell
Countries: Russian Federation / Turkey
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Telia confirms talks to sell Turkcell stake to sovereign fund

Published 16 Jun 2020 19:14 CET | Turkey
Telia Company has confirmed it's in talks to sell its stake in Turkcell Holding. The Swedish company issued a statement following ...

Alfa looks to increase stake in Turkcell

Published 08 Nov 2016 13:26 CET | Turkey
Russia's Alfa Group appears to be going ahead with an investment in Turkish operator Turkcell, rather than selling off its stake. ...

London court dismisses claims vs Fridman in Turkcell case

Published 03 Aug 2016 10:20 CET | Turkey
Turkish holding company Cukurova's claims against Russian billionaire Mikhail Fridman's investment vehicle Letter One were ...

No dividend for Turkcell shareholders

Published 29 Mar 2016 11:42 CET | Turkey
Shareholders of Turkcell did not take a decision on a resumption of dividend payments at the annual general meeting. The ...

Court lets TeliaSonera sell Cukurova holding shares

Published 08 Mar 2016 11:42 CET | Turkey
TeliaSonera said the court in the British Virgin Islands (BVI) has issued a judgement granting its application for the sale of ...

Alfa bids USD 2.8 bln to raise stake in Turkcell

Published 17 Mar 2015 09:23 CET | Turkey
Russia's Alfa Telecom offered USD 2.8 billion to buy back a 13.76 percent stake of Turkcell, Reuters reports. The deal would ...

Cukurova close to recovering Turkcell stake

Published 28 Jul 2014 14:25 CET | Turkey
Turkey's Cukurova is close to recovering a controlling stake in Turkcell after a British court said it had agreed financing ...