TeliaSonera CEO: Award From Cukurova 'Not Very Important'

Date : 10/19/2011 @ 5:14AM
Source : Dow Jones News
Stock : Turkcell Iletisim Hizmetleri As (TKC)
Quote : 8.75  0.02 (0.23%) @ 4:02PM

TeliaSonera CEO: Award From Cukurova 'Not Very Important'

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The head of Sweden's TeliaSonera AB (TLSN.SK) Wednesday said an award of around $1 billion in damages from Turkish conglomerate Cukurova Holding is "not very important," and that the focus should be on breaking the board deadlock at their shared holding Turkcell (TKC), Turkey's leading mobile company.

The comments by Chief Executive Lars Nyberg were made at the company's third-quarter results presentation in Stockholm.

Turkcell has been the subject of a long running battle for control between Sweden's TeliaSonera and Russia's Altimo, a unit of Russia's Alfa Group, on one side, and Turkey's Cukurova on the other.

-By Sven Grundberg, Dow Jones Newswires; +46 8 545 130 98; sven.grundberg@dowjones.com




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