Telia Company sells its direct stake in Turkish subsidiary Turkcell for roughly SEK 4,127 million. The sale is in line with the strategy to focus on the Nordics and Baltics.
The sale of the 153.5 million ordinary shares in Turkcell, representing approximately 7.0 percent of the company’s issued share capital, to institutional investors means that Telia Company no longer has a direct stake in Turkcell.
Telia Company’s indirect stake (24 percent) in Turkcell through Turkcell Holding remains unchanged.
In line with strategy
“The sale of the remaining directly owned shares in Turkcell is in line with our strategy to focus on our operations in the Nordics and Baltics. We will after today’s transaction continue to be the largest shareholder in Turkcell and as such will continue our long-term efforts to solve the ownership deadlock and to reinstate normal corporate governance in Turkcell,” says Johan Dennelind, President and CEO of Telia Company.
Source: Telia Company