Telia was traded successively to the higher rates on Wednesday. At 16 the time the share was up more than 3 percent. An explanation for the increase is according to Swedbank’s analyst Stefan Olsson, the re-registration of shareholding in Turkcell, which allows for a possible sale of the shares.
“I think you are taking this as a positive thing. Turkcell’s contribution as an associated company to Telia’s earnings have in recent quarters been reduced. A disposal of the holding in Turkcell would actually may not be so strange because you have this realignment towards the home markets in the Nordic and Baltic countries is going on,” says Swedbank’s telekomanalytiker Stefan Olsson to News agency Bloomberg.
Telia has historically had problems with the exercise of control in Turkcell, despite its holding in the company. Among other things, Telia is not able to elect board members to Turkcell’s board of directors. In addition, the issue of Turkcell to pay a dividend to the owners has been a topic for discussions between Telia, Cukurova and Alfa Group.
the News agency Directly sets given the complicated ownership situation in Turkcell question about any of the other storägarna could be potential buyers.
“I don’t think Cukurova is current as buyers of a block of shares. They have very strained finances as it is. But one should perhaps not exclude the Alfagruppen and Mikhail Fridman there”, says Stefan Olsson.
the News agency Direct travel also the question of interest for Telia’s stake in Turkcell would be able to be muted from external stakeholders, with a view on the ownership situation.
“Would you go out, it is the next owner who takes the reins in this conflict, and it will do well to first look at the Alpha as a possible taker on it now would be to sell the entire shareholding at 38%. Now, as I understand it the registered of the approximately one-third of its holdings, which opens the way to a sale”, says Stefan Olsson.
When the News agency under the Direct on Tuesday afternoon, asked the question to Telia’s IR department dismissed the however, an impending sale of the shareholding in Turkcell.
It is not so that the shares be sold?
“No, it is not linked to it at all, but it is a mere formality, and increasing flexibility”.
Telia is Turkcell’s biggest shareholder with a holding of 38 per cent. Turkcell is Turkey’s largest mobile operator.
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