STOCKHOLM - Swedish-Finnish telecommunications operator TeliaSonera said Friday it has sued Turkey's Cukurova group over its refusal to honour an agreement to sell a key stake in Turkcell, the biggest Turkish mobile phone operator.
"We've filed a complaint with the international chamber of commerce in Geneva," TeliaSonera spokesman Michael Kongstad told AFP.
"We feel that Cukurova is obliged to follow through on the agreement," he said.
TeliaSonera announced in March that it would pay 3.1 billion dollars (2.5 billion euros) for 27 percent of Turkcell, taking its total holding to 64.3 percent.
But Cukurova said last month that it had declined to sign a final deal with TeliaSonera by the May 23 deadline, and was looking instead at options that would not change control of the company.
Cukurova Holdings, one of Turkey's most diverse conglomerates, is still recovering after reaching the brink of bankruptcy during an economic crisis in 2001.
It is currently the biggest shareholder of Turkcell with 42 percent.
The mobile phone operator has some 23 million subscribers and some 5,000 employees. It is also the first Turkish company to be listed on Wall Street.
TeliaSonera's coffers are flush and the company has long been looking for international acquisitions. The group said Friday it remained very keen on Turkcell and the Turkish market.
"Turkcell has developed very well and shows good growth figures. We want to consolidate the company and take advantage of its high level of skills," Kongstad said.
06/03/2005 14:30 GMT