Turk Telecom Wins $187 Million Award Against Turk Telecom

­In a brief note, Turk Telecom says that it has been awarded 279.2 million lire (US$187.2 million) by the Ankara Commercial Court against Turkcell.

The payment (plus interest and relevant penalty payments from August 2005) is to recover losses due to the international connection established by Turkcell via Millenicom, against the interconnection agreement between Turkcell and Turk Telekom in place by then.

Turkcell says that it will appeal the judgement.

Turkcell added that the international interconnection agreement was signed with the permission and the approval of the Ministry of Transportation and Information and Communication Technologies Authority. The company is confident and maintain its view that this case has no legal basis.

The company has previously set aside TRY 122.3 million pending the conclusion of the legal dispute.

Turkcell also delayed its own financial statement until later this week, as it said "preparations have not been completed due to technical reasons."

Posted to the site on 8th November 2009