FT: Turkish regulator halts Turkcell Board changes

Financial Times reported that Capital Markets Board in Turkey ruled against immediate changes in the Board of Directors of Turkcell (İMKB: TCELL, NYSE: TKC), sought by major owners TeliaSonera (OMX: TLSN) and Russian Alfa Group Consortium’s Altimo thus apparently allowing Mehmet Emin Karamehmet through his holding company Cukurova to maintain control at least for now. Turkcell’s annual meeting is this Friday and the Nordic telecommunications behemoth had been hoping it would nudge the dispute forward. There are also legal battles ongoing involving the three dancing partners and those rulings will now likely come ahead of any Board changes.