Alfa Group

Turkish holding company Çukurova did not declare an intent to buy a 13.22 percent stake in Turkcell from Russia's Alfa Telecom by a Nov. 18 court deadline, a source close to the matter told Reuters on Nov. 21. 

"No declaration was made by the Friday (deadline). Now in line with the court decision, the option of buying has moved to Alfa," the source said. 

Russian bank VTB said late on Nov. 7 it had reached an agreement with Alfa Group about a joint investment in Turkey's top mobile operator Turkcell.

The announcement comes ahead of a mid-November deadline for Russian billionaire Mikhail Fridman and Turkcell's founder Mehmet Emin Karamehmet to resolve a dispute over control of the Turkish company.

Russia?s Alfa Telecom has applied to Turkey?s Competition Board to take indirect control of leading Turkish mobile phone operator Turkcell from Çukurova Holding, the latest step in a long-running battle for control of the company.

Three deputy general managers have quit their posts at Turkey?s largest mobile phone operator, Turkcell, amid rising interference by the government into the company, which has a complex shareholder structure. 

Turkey's biggest mobile operator Turkcell has announced that company CEO Süreyya Ciliv has decided to resign from his position, effective from Jan. 31, in a written statement to the Public Disclosure Platform late on Jan. 28.

Çukurova Holding has said it paid Russia’s Alfa Group $1.6 billion to recover a disputed stake in Turkcell, taking a major step toward regaining control of Turkey’s biggest mobile phone operator after a seven-year battle.

Two shareholders of Turkey’s largest mobile operator Turkcell, Turkish Çukurova Holding and Russian Altimo, have reached an agreement in an ongoing legal battle, a U.K. court looking into the legal dispute between parties has announced.

Turkcell is known as the crown jewel of the Turkish ICT industry. It is very profitable and it disseminates technology to every corner of the country far better than its rivals.

Financially speaking, Turkcell Group delivered a solid performance in 2013.

Çukurova Holding is close to securing financing from a local partner to recover a disputed stake in the country’s biggest mobile phone operator Turkcell, three sources close to the matter told Reuters.

Bank of Cyprus said on Monday that it is looking “positively” at a revised offer to sell its loss-making PJSC Ukrainian unit to Russia’s Alfa Group as part of a restructuring drive.