Motorola receives $410m windfall from Telsim acquisition

US handset maker Motorola received a $410-million payment on the sale by the Turkish Savings and Deposit Insurance Fund of Turkish cellular phone operator Telsim Mobil Telekomunikasyon to Vodafone Group, according to an Associated Press report.

The report said the payment stemmed from an agreement related to Motorola's legal and financial claims against Telsim and certain other parties.

Motorola alleged that the Uzan family, which formerly controlled Telsim, perpetrated "massive fraud" against Motorola.

In October 2005, Motorola agreed to settle its financial and legal claims against Telsim and certain other parties for a $500-million payment, which it received that month, plus the right to receive 20% of the proceeds from the sale of Telsim assets valued at more than $2.5 billion.

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