June 17, 2020 / 10:34 PM / a month ago

Turkey Wealth Fund says agrees to acquire control of Turkcell

ISTANBUL, June 18 (Reuters) - The Turkey Wealth Fund (TWF) said on Thursday it agreed to buy 26.2% of shares in mobile operator Turkcell Iletisim under a series of agreements, with Swedish telecom company Telia divesting its indirect stake for $530 million.

“At completion of this transaction: TWF becomes the largest shareholder in Turkcell and gains effective control over the board of directors,” said the statement from the TWF, Turkey’s sovereign wealth fund. (Reporting by Daren Butler; Editing by Sandra Maler)

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