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Wireless

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

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