Turkcell sets date for meeting

ISTANBUL - Hürriyet Daily News

Turkcell has announced it will hold a general meeting on June 24. DAILY NEWS photo, Hasan ALTINIŞIK

Turkey’s biggest mobile operator, Turkcell, has said it would hold an annual general meeting on June 24 after it could not convene last week due to a lack of a quorum amid continuing disagreements between shareholders.

Turkcell has failed to hold its general assembly for years, with the Turkish Çukurova, Russia-based Altimo and Nordic Teliasonera holding the most shares in a complex partnership structure.

Turkey’s Capital Markets Board (SPK) will appoint two more independent board members to the company to maintain a minimum-five member structure if the deadline requirement is not met, the SPK had announced earlier.

“The Turkcell partners should resolve their problems and appoint their board member as soon as possible; that is our first preference. If not, we will not allow Turkcell to be without a board. If they do not resolve the issue the state will certainly intervene until the partners agree,” Turkish Deputy Prime Minister Ali Babacan said last week.