Tribunal favors TeliaSonera in Turkcell share transfer

Telecom operator TeliaSonera disclosed an international arbitration tribunal had ruled in its favor regarding a transfer of Turkcell shares by Turkey's Cukurova, a Reuters report said.

The Reuters report quoted the company as saying that the tribunal of the International Chamber of Commerce issued an award finding that Cukurova had 'violated certain share transfer restrictions' in an agreement under which TeliaSonera was to buy Turkcell shares from Cukurova.

In 2005, Cukurova instead sold a 13% stake in the Turkish telecom operator to Russia's Alfa Group, the report said.

The arbitration tribunal has reserved its rights to decide about other claims brought by TeliaSonera, including damages, TeliaSonera said in a statement.

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