TeliaSonera Wins $932M In Tussle Over Turkcell

Law360, New York (September 30, 2011, 3:06 PM EDT) -- Swedish telecom company TeliaSonera AB said Friday that an arbitration panel for the International Chamber of Commerce had awarded it $932 million in damages in its long-running tussle with a rival shareholder over control of Turkish cellphone operator Turkcell.

In 2005, TeliaSonera struck a deal to buy partner Cukurova Group's shares of Turkcell for $3.1 billion, but Cukurova, owned by Turkish businessman Mehmet Karamehmet, backed out of the deal at the last moment, touching off years of litigation. In 2009, TeliaSonera joined forces with conglomerate Alfa...
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