Turkcell Holding

Scandinavian Telia AB has sold about 1.78 billion Turkish liras ($508 million) worth of stock in Turkey's largest mobile operator,  Turkcell İletişim,  in order to focus on its operations in the Nordics and Baltics.

Stockholm-based Telia agreed to sell 153.5 million Turkcell shares - its 7 percent direct stake - to institutional investors, the company said in a statement on Sept 19.

Turkey's largest mobile phone operator Turkcell's annual general meeting on May 25 approved the distribution of a three billion lira ($841 million) dividend, a company official has told Reuters.

The company stated on May 24 that shareholders of Turkcell Holding, which holds 51 percent of Turkcell, agreed to propose the three billion lira dividend.

TeliaSonera and the other shareholders in Turkcell Holding have agreed to propose to the General Assembly meeting of Turkcell that the largest mobile company in Turkey will distribute dividends, which is calculated at around 4 billion Turkish Liras.

The annual general meeting of the leading Turkish mobile phone company Turkcell failed to convene on May 29, as there has yet to be a settlement amid a long-running dispute between the company’s main shareholders, company officials said.