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Key Turkcell board meeting postponed - sources
March 20, 2013 / 8:30 AM / 5 years ago

Key Turkcell board meeting postponed - sources

ISTANBUL, March 20 (Reuters) - Turkish mobile phone company Turkcell postponed a board meeting on Wednesday, at which it had been expected to agree its first dividend since 2009, sources close to the company said.

Complex ownership disputes between TeliaSonera, Turkey’s Cukurova Holding and Russia’s Altimo have left Turkcell unable to agree on a board and approve dividend payments since 2009.

Wednesday’s meeting, which was also expected to propose a general shareholder meeting, was postponed because of scheduling problems, the sources said.

Last week Turkey’s Capital Markets Board said that it had appointed three independent directors to the Turkcell board and removed three board members, a decision welcomed by the three main shareholders, who have been at loggerheads since 2005 over control of the group. (Reporting by Evren Ballim, Writing by Seda Sezer; Editing by David Goodman)

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