Cukurova To Sell Turkcell Shares To TeliaSonera

ISTANBUL - Turkish Cukurova Holding is planning to sell 52 percent of its share in Turkcell to Nordic telecoms company TeliaSonera for 3.1 billion U.S. dollars.
If negotiations are successfully completed, TeliaSonera`s stake in Turkcell GSM operator will rise to 64.3 percent while Cukurova`s stake will fall to 13.5 percent.
Cukurova group announced that it has received an offer from Sonera Holding.
``The offer was found to be acceptable and the decision was taken to hold talks on the sale of the shares,`` Cukurova said.
Turkcell group has a 51 percent stake in the GSM operator. Sonera`s share presently is at 37 percent.
Cukurova is the only Turkish company traded on the New York Stock Exchange.