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Turkcell Meeting in Doubt

ISTANBUL — A shareholder meeting of Turkish mobile phone company Turkcell may not take place on June 29 as scheduled because two major shareholders — Altimo, the telecoms arm of Alfa Group, and Cukurova — failed to settle a dispute.

"We failed to agree with the Cukurova Group over independent board members, board structure and dividend payment issues," Altimo vice president Mustafa Kiral said Tuesday, adding that major shareholder Turkcell Holding would as a result not be represented at Turkcell's general meeting.

TeliaSonera has the largest direct and indirect stake in Turkcell. TeliaSonera and Altimo are locked in legal battles to wrest control of Turkcell from Cukurova.

(Reuters)

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