"A British court ruled that Turkey's Cukurova Group must pay $1.57 billion to Russian telecom firm Altimo to recover Turkcell shares appropriated for a defaulted loan, opening the way to end an eight-year dispute between major shareholders.
Shares in Turkcell, Turkey's biggest mobile phone operator, rose 3 percent Tuesday after the announcement of the figure, which includes the interest accrued over the years the dispute has been running.
The announcement follows a British Privy Council ruling in January that Altimo had been entitled to appropriate the shares but that Cukurova should have an opportunity to recover them "on appropriate conditions.""
'via Blog this'
No comments:
Post a Comment