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.
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.
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.
Altimo, the indirect owner of 13.2 percent of Turkcell Iletisim Hizmetleri AS, Turkey’s biggest mobile-phone operator, said it may seize another 13.7 percent if Cukurova Holding AS fails to pay $1.45 billion in debt by early March.
Turkcell Iletisim Hizmetleri AS, Turkey’s biggest mobile-phone operator, will hold an annual shareholders’ meeting on June 29 after a call by the company’s statutory auditors as the shareholders say disputes still remain.
TeliaSonera AB, Sweden’s largest telephone company, will take over its Kazakh venture for $1.52 billion before holding an initial public offering for the unit as it seeks to reduce dependence on saturated home markets.