- June 29th, 2012
- Robert Zak
Turkish mobile network Turkcell has been going through a tumultuous time of late, withs its board of shareholders constantly failing to come to a concise agreement over control of the network.
Turkcell’s three main shareholders, Altimo, Cukurova and TeliaSonera, have been in a dispute for several years over how the company should be managed. TeliaSonera believe that more independent members should be added to the Board of Directors, while Cukurova are said to be behind blocking the move.
Due to the impasse, a board meeting was due to take place earlier this week where it was hoped that the major shareholders could come to an agreement. However, Turkcell Holding, which owns 51% of the company, did not attend the meeting and as a result it was postponed.
The major shareholders of Turkcell have now applied to the stock exchange for an extension of the current deadline for enforcing new rules in the company.
[Source: Cellular News]