Turkcell Looking to Buy Out TeliaSonera Stake in Eurasian Ops
Published on: 1st Mar 2016
Note -- this news article is more than a year old.
Turkcell has made a move to buy out TeliaSonera's holdings in companies that the two firms invest in.
One of the two companies that Turkcell is bidding for is Fintur Holdings, which is owned by TeliaSonera (58.55%) and Turkcell (41.55%).
Fintur Holdings owns stakes in mobile networks in Azerbaijan, Georgia, Kazakhstan, and Moldova.
Turkcell is also bidding to buy TeliaSonera's 24% direct stake in Kcell operating in Kazakhstan. If approved, along with the Fintur stake, Turkcell would own 75% of the Kazakh company.
TeliaSonera has previously said that it plans to pull out of the Eurasian markets, so a sale of the Fintur stake was expected, and Turkcell the likely bidder.
However, the short stock market statement from Turkcell did not say how much it is offering for the two companies, although it did confirm that an earlier offer to buy them wasn't taken up.
Russia's MTS was also said to be interested in the stake, but recent political tension between the two countries could make that deal unlikely to go ahead.