Turkcell on Wednesday announced that it is looking at its options regarding the possible acquisition of some of TeliaSonera’s assets in the Eurasia region, assets in which it already holds a stake.
The Turkish mobile operator said that it is working on taking control of Fintur, the holding company through which it and TeliaSonera own four mobile operators in the region: Azercell in Azerbaijan, Geocell in Georgia, Kazakhstan’s Kcell and Moldovan operator Moldcell.
The announcement came after TeliaSonera revealed that it plans to exit its Eurasian op erations with a view to focusing on the European market.
TeliaSonera holds a 58.55% stake in Fintur, with Turkcell owning the remaining 41.45%. Fintur owns the four aforementioned mobile firms, which all effectively operate as TeliaSonera subsidiaries; their results are consolidated under TeliaSonera’s and they follow the Swedish telco’s branding style.
"In order to explore our strategic options to acquire the remaining stake in Fintur, we have initiated the process to appoint a strategic and financial advisor," Turkcell said on Thursday.
It noted that taking over the four mobile operators is "in line with [its] growth strategy in the region."
In June the Turkish operator took sole control of Ukrainian mobile operator life:), agreeing to pay US$100 million for 44.96% stake in Euroasia Telecommunications Holding that it did not already own; Euroasia owns 100% of Astelit, which operates under the life:) brand.
At the time, new CEO Kaan Terzioglu said the Ukraine would serve as a test bed as Turkcell moves to strengthen its international operations.
TeliaSonera, meanwhile, is also a Turkcell shareholder. Earlier this year Turkcell’s shareholders finally reached agreement on the payment of dividends for the five years between 2010 and 2014, something that helped TeliaSonera improve its free cash flow in the second quarter.
