Turkcell chairman starts talks to resolve disputes
Posted by meb at April 26th, 2011
The chairman of Turkcell, Turkey’s leading mobile phone operator, has started talks to resolve disputes after an annual general meeting last week, said the company in a filing with the Istanbul Stock Exchange, or ISE, on Monday.
TeliaSoner, 38 percent stakeholder in the company, said earlier Friday that the Turkcell board was in a deadlock after shareholders on Thursday failed to agree on removing Chairman Colin Williams and on a dividend from profits last year, Bloomberg reported Friday.
Turkcell also said a proposed dividend due May 16 would not be made after the payment was blocked at a shareholders’ general meeting.
Williams “submitted the requisite application to legally appoint the statutory auditors not appointed at the general assembly,” the company said in a filing with PR Newswire on Monday.
The company resumed trading on ISE on Monday after a suspension.
It had been temporarily suspended on the ISE upon a request from the company before the opening of Friday’s session. It lost 3.1 percent, to 8.90 liras at 11:10 a.m., reversing three days of gains between April 19 and April 21.
Meanwhile, Turk Telekom has not been able to start its annual general meeting after a representative of the Industry Ministry failed to show up, broadcaster CNBC-e reported on Monday. The meeting was due to start at noon on Monday.
source: hurriyet
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