Turkish regulator changes Turkcell board members

The regulator also removed three members from the board, it said in an e-mailed statement late on Monday.

Turkish regulator changes Turkcell board members

World Bulletin / News Desk

Turkey's Capital Markets Board (SPK) appointed three independent board members at mobile phone operator Turkcell in what may be an initial step towards a first board meeting in two years amid a long-running shareholder dispute.

The regulator also removed three members from the board, it said in an e-mailed statement late on Monday. The government warned last year it could intervene to force publicly traded companies to assign board members in the interest of investors.

Turkcell is at the centre of a legal battle for control by its partners: Turkey's Cukurova Holding, Nordic telecoms group TeliaSonera, and Russia's Altimo. Their dispute has left Turkcell unable to agree on the composition of its board and unable to distribute dividends.

Last Mod: 12 Mart 2013, 13:32
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