S&C Represents Telia in Turkcell Sale

July 14, 2020

Long-standing client Telia Company AB, the principal telephone and mobile network operator in Sweden, Finland and the Baltic States, agreed to sell its interest in Turkcell Holding in a deal announced June 17. The Turkey Wealth Fund, the strategic investment arm of the Republic of Turkey, is purchasing the interest for $530 million and will become Turkcell's largest shareholder. Turkcell owns 51 percent of the leading digital and telecommunications operator in Turkey.

The deal, which is expected to close later this year, completes Telia's exit from Turkey and Eurasia. 

The ownership of Turkcell has been the subject of several long-running legal disputes. Upon closing, this transaction will include a full and global settlement of all shareholder disputes and litigations connected to Turkcell and Turkcell Holding. 

The London-based S&C corporate team advising Telia was led by John Horsfield-Bradbury, Alan Fishman, Matthew Triggs, Renata Mascarenhas, and Angus Hayhow, with Maria Lacayo advising on U.S. securities law matters. The S&C litigation team advising on the transaction and the earlier arbitral proceedings was led by John Hardiman and Mevelyn Ong.