Turkcell to consider acquiring some assets as TeliaSonera exits

ISTANBUL - Reuters

CEO of Turkcell, Kaan Terzioğlu. DHA Photo

Turkey’s largest mobile operator Turkcell said on Sept. 17 it was considering acquiring some of the Eurasian assets of its shareholder TeliaSonera, after the Nordic telecom operator said it was looking at leaving seven markets.

TeliaSonera, whose Eurasia region consists of Nepal, Kazakhstan, Uzbekistan, Azerbaijan, Georgia, Moldova and Tajikistan, said on Thursday it would now increase its focus on its Europe and Sweden regions.

Turkcell said it had initiated the process to appoint a strategic and financial advisor to advise on it acquiring the remaining stake in TeliaSonera’s Fintur unit, which includes Kazakhstan, Azerbaijan, Georgia and Moldova.

TeliaSonera Chief Executive Johan Dennelind said in a statement the decision to pull out of the region followed “two years of hard work to improve the Eurasian operations, not least from a corporate governance and sustainability perspective.”

Authorities in Sweden, Norway, Switzerland, the Netherlands and the United States are investigating a TeliaSonera deal in Uzbekistan which led to the chief executive stepping down and most board members being replaced in 2013.