Support The Moscow Times!

Watchdog to Decide On Turkcell

ISTANBUL — Turkey's telecom watchdog said Tuesday that it would have to approve any change in control of Turkcell, a wireless carrier co-owned by Alfa Group.

The announcement came a day ahead of a British court ruling that could leave the firm with no major Turkish shareholder.

The Privy Council was expected to rule Wednesday in the long-running shareholder dispute between Mehmet Emin Karamehmet, one of Turkey's most powerful businessmen, and Altimo, the telecom arm of Alfa Group.

Should it rule in Altimo's favor, the Russian company could be awarded Karamehmet's 13.8 percent stake in Turkcell.

"In the royalty contact signed between our institution and Turkcell, it says any kind of share transfer resulting in a change of control requires an approval from our institution," Turkish telecom watchdog BTK said.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.