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Turkcell Row May Be Resolved

TeliaSonera said the board of Turkcell next week might propose a dividend and a general shareholder meeting, signaling that owners of the Turkish mobile phone firm had made progress in resolving long-standing legal battles.

Complex ownership disputes between TeliaSonera, Turkey's Cukurova Holding and Russia's Altimo have left Turkcell unable to agree on a board and approve dividend payments since 2009.

This week, the Turkish regulator, Capital Markets Board, said it had appointed three independent directors to Turkcell's board and removed three board members, a decision welcomed by the three main shareholders, who have been at loggerheads since 2005 over control of the group.

A meeting of the new board is expected to take place on March 20, Teliasonera said on Thursday.

(Reuters)

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