About: http://data.cimple.eu/news-article/0435dbf55b077e2b8e69c68f1f84e96ccec291979458e05c9545c310     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

AttributesValues
rdf:type
schema:articleBody
  • Turkey's state-owned wealth fund, TWF, said Thursday it has acquired a controlling stake in the country's leading GSM operator Turkcell, via the purchase of shares held by Swedish company Telia for $530 million. The transaction means that TWF, Turkey's key investment arm, will be the largest shareholder in Turkcell and have effective control over its board of directors, the fund said in a statement. The deal is expected to close during the second half of 2020, subject to obtaining regulatory clearances. "We intend to support Turkcell management in its focus on innovation and their strategic initiatives such as 5G infrastructure while the company continues its pioneering role in product and services innovation," said TWF chief executive Zafer Sonmez. "We strongly believe that Turkcell will remain as a performance-driven entity and its financial results will be positively affected with our contribution through resolving the decades-long shareholder governance issues," Sonmez said. Separately, Telia confirmed it has agreed to sell its 47.1-percent stake in Turkcell Holding to the TWF for $530 million. Disagreements between Turkcell's shareholders have marred the smooth running of the company. "The transaction also includes, subject to closing, a full and global settlement of all shareholder disputes and litigation connected to Turkcell and Turkcell Holding," Telia said. Telia chief executive Allison Kirkby said offloading the stake would "reduce risk, improve leverage and increase liquidity" for the Swedish company and will "generate better shareholder returns in our core markets." ezz-fo/raz/spm
schema:headline
  • Turkey wealth fund buys controlling stake in Turkcell
schema:mentions
schema:author
schema:datePublished
http://data.cimple...sPoliticalLeaning
http://data.cimple...logy#hasSentiment
http://data.cimple...readability_score
http://data.cimple...tology#hasEmotion
Faceted Search & Find service v1.16.115 as of Oct 09 2023


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 5 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software