Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Turkcell sells its shares in Fintur to Sonera

by Anadolu Agency

ANKARA Dec 12, 2018 - 12:00 am GMT+3
by Anadolu Agency Dec 12, 2018 12:00 am

Turkey's leading mobile network operator Turkcell on Wednesday sold its shares in the Netherlands-based telecommunication company Fintur.

The transaction came after the shareholders of Fintur agreed to transfer its subsidiary Kcell to Kazakhtelecom.

"Binding agreement with respect to the transfer of our shares in our 41.45 percent owned subsidiary Fintur to Sonera Holding, the other shareholder of Fintur, has been signed on December 12, 2018," Turkcell said in a statement.

The statement was issued on Turkey's Public Disclosure Platform (KAP).

The value of the transaction is anticipated to be some €350 million ($396.4 million).

The transaction is expected to be completed following the transfer of Kcell to Kazakhtelecom and obtainment of other regulatory approvals, it said.

Turkcell CEO Kaan Terzioğlu called the announcement as a milestone for the company's focus on digital services and strong balance sheet strategies.

"Subject to the FX rates and balance sheet position on the closing date, the contribution of this transaction to Turkcell's profitability is expected to be approximately 850 million Turkish liras [some $70.864 million]," Terzioğlu said.

Earlier on Wednesday, Fintur sold its total shareholding (51 percent) in Kcell to Kazakhtelecom, a fixed line operator controlled by Kazakh government, for $771 million.

Fintur, through its subsidiaries, provides mobile telecommunication services in Azerbaijan, Kazakhstan, Georgia, and Moldova.

  • shortlink copied
  • Last Update: Dec 12, 2018 1:01 pm
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    homepage
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Migrants stranded in Bosnia-Herzegovina survive subzero conditions
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021