Turkcell to make offer for TeliaSonera's stake in Fintur

News Wireless Europe 26 NOV 2015
Turkcell to make offer for TeliaSonera's stake in Fintur
Turkcell said it plans to make a non-binding offer to buy the portion of TeliaSonera's 58.55 percent stake in Fintur Holdings. Turkcell holds 41.45 percent in Fintur, which controls the Moldcell, Azercell, Kcell and Geocell mobile operators from Moldova, Azerbaijan, Kazakhstan and Georgia. Turkcell intends to gain control of Fintur in 2016 "if all the negotiations go well," CEO Kaan Terzioglu told reporters on 17 November in Istanbul, according to Bloomberg.

TeliaSonera said in September that it plans to exit Asia and ex-Soviet markets to focus on business in Europe and its home Nordic region. Other companies also showed their interest in acquiring TeliaSonera's stake in TeliaSonera and Turkcell's joint venture, said a TeliaSonera spokesman.

TeliaSonera’s Fintur stake is valued at SEK 0.8 a share by an analyst at Pareto Securities in Oslo, Jon David Gjertsen. He put the total cost of TeliaSonera’s 58.55 percent stake in Fintur Holdings at approximately USD 430 million.

Turkcell, in which TeliaSonera holds 38 percent, hired Citigroup and HSBC Holdings to advise on a planned acquisition of Fintur, two people with knowledge of the matter told Bloomberg. Russian billionaire Mikhail Fridman’s investment company and Cukurova Holding are among the other Turkcell stakeholders.

Categories:

Mobile

Companies:

Telia,  Turkcell

Regions:

Europe

Tags:

Production planning & operations, Shareholders & subsidiaries, M&A buyouts & divestments

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