TeliaSonera takes majority in Turkish mobile company

Teliasonera have agreed a deal with the Cukarova Group to buy a further 27% of Turkish telephone company Turkcell for 21.8 billion kronor. Teliasonera will now own 64.3 percent of Turkcell.

The deal leaves Teliasonera in strong market position in Turkey as Turkcell is the country’s largest mobile phone company with over 23 million customers. In 2003, the company made 2.6 billion dollars.

Teliasonera expect the deal to be completed by the end of the second quarter this year.