TeliaSonera AB and Altimo said they want to oust Chairman Colin Williams from the board of Turkcell Iletisim Hizmetleri AS , Turkey’s biggest mobile-phone operator, at next week’s shareholders meeting, arguing he’s hampering the company’s growth by favoring its founding shareholder.
Cukurova Holding AS must pay $1.56 billion to recover a disputed 13.7 percent stake in Turkey’s biggest mobile-phone operator from Russian Alfa Group, raising investors’ hopes for a payout of unpaid dividends between 2010 and 2012.
Turkcell Iletisim Hizmetleri AS, Turkey’s biggest mobile phone company, dropped after shareholders didn’t vote on a dividend from 2010 profit and an attempt by TeliaSonera SA to replace one or more board members was blocked on government objections.
TeliaSonera AB may succeed in ousting Colin Williams, chairman of Turkcell Iletisim Hizmetleri AS, should it win a vote with partner Altimo on electing the head of a three-man panel to run a shareholders’ meeting today, Radikal said.
TeliaSonera AB, the biggest shareholder in Turkcell Iletisim Hizmetleri AS, said any move by the Turkish market regulator to “nationalize” the phone company by appointing the entire board would be unacceptable.
TeliaSonera AB will press for the replacement of Turkcell Iletisim Hizmetleri AS Chairman Colin Williams at a meeting of the unit’s shareholders today, said Cecilia Edstroem, spokeswoman for TeliaSonera.
Turkcell Iletisim Hizmetleri AS’s main investors will ask for a deadline extension to elect independent board members to Turkey’s biggest mobile operator after it failed to convene a shareholders’ meeting.
Management of Turkcell Iletisim Hizmetleri AS, Turkey’s biggest mobile operator, may propose a plan to pay dividends from 2012 profit after a shareholder dispute blocked payments for the previous two years.