Turkish Telecoms Sector: The Site Of A Nordic/Russian Power Struggle

After a four and a half year struggle, Sweden's TeliaSonera might finally lay its hands on a controlling stake in Turkcell, the top Turkish mobile operator. An arbitration tribunal has ordered Turkish conglomerate Cukurova to hand over to TeliaSonera its 27% share in Turkcell, which includes cross-holdings with Russia's Alfa. This would be in exchange for US$3.1bn in cash, and would increase TeliaSonera's stake in Turkcell from 37.3% to 64.3%.

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