The Istanbul Stock Exchange, or ISE, announced Friday that shares of Turkey’s biggest mobile-phone operator, Turkcell, had been temporarily suspended upon a request of the company.
The company decided to suspend its shares to prevent its investors from making losses, Anatolia news agency reported Friday. Turkcell will remain suspended from trade on the ISE will until further notice from the company, according the announcement from the ISE.
“Turkcell shares on the ISE may continue to be suspended from trading until the next general assembly, which may generate a solution to the corporate governance situation,” Evgeny Dumalkin, the deputy chief of Russia’s Altimo, told the Hürriyet Daily News & Economic Review on Friday. Dumalkin had said earlier on Thursday afternoon that the rejection of TeliaSonera's and Altimo's proposal to oust Turkcell’s chairman Colin Williams could affect the Turkcell share prices on the ISE.
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