TELIA COMPANY ANNOUNCES PROPOSED SALE OF PART OF ITS STAKE IN TURKCELL


Today, Sonera Holding B.V., a wholly owned subsidiary of Telia Company AB, announces the launch of an accelerated bookbuilding offering to institutional investors of approximately 153.5 million shares in Turkcell Iletism Hizmetleri A.S. (Turkcell), representing approximately 7.0 percent of Turkcell’s issued share capital. 

Telia Company’s total interest in Turkcell is approximately 31.0 percent of its issued share capital, comprising a 7.0 percent direct stake and a 24.0 percent indirect stake. If all offered shares are sold, Telia Company will retain only its 24.0 percent indirect stake.

Today’s proposed sale of a portion of Telia Company’s shareholding in Turkcell is consistent with the strategy to focus on operations in the Nordics and Baltics. In May 2017 Telia Company sold 155 million ordinary shares in Turkcell to institutional investors, representing 7.0 per cent of the company’s direct stake in Turkcell. Telia Company will continue to be the largest shareholder in Turkcell in economic terms post today’s proposed transaction.

The offer price and final number of shares sold will be determined by Telia Company at the conclusion of the bookbuilding process and will be announced in a separate press release. The transaction is expected to settle on 21 September, 2017.

BofA Merrill Lynch, Citi and UBS are acting as Joint Bookrunners for the Offering.

Source:Telia Company

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