TeliaSonera has reacted positively to Turkcell’s announcement of a new EGM, to be held on 12 October. The Swedish telco, which is Turkcell’s biggest investor, said in a statement that it is “committed to resolving the deadlock” in the Turkish…
TeliaSonera has reacted positively to Turkcell’s announcement of a new EGM, to be held on 12 October. The Swedish telco, which is Turkcell’s biggest investor, said in a statement that it is “committed to resolving the deadlock” in the Turkish player.
The EGM was requested by TeliaSonera, and will discuss the replacement of one or more members of the Turkcell Board of Directors, according to the invite.
The move follows previous unsuccessful attempts by TeliaSonera to replace Turkcell’s chairman Colin Williams over accusations of impartiality violations.
Those previous attempts were blocked by the Turkcell board.
At a previous Turkcell EGM in August new statutory auditors had been elected which, as TeliaSonera commented in its statement, “[have] clearly improved corporate governance in Turkcell, to the benefit of all shareholders”.
Cecilia Edström, Head of Group Communications at TeliaSonera, said: “We look forward to the upcoming EGM, as we believe that the deadlock in the Board of Directors can only be resolved by replacing the current Chairman with a truly independent Board member. This will also pave the way for a positive decision on the distribution of dividends for 2010, which is essential to all shareholders”.
