ESPOO, Finland—Nokia Corp. scored $341 million while Motorola Inc. received $410 million as part of a settlement with Turkish network operator Telsim Mobil Telekomunikasyon.
The payments were made upon the completion of the sale of Telsim’s assets, in accordance with an agreement reached last August to settle claims against the Turkish operator, which had defaulted on its repayment obligations on network equipment delivered in 2000. Telsim continues to do business in Turkey.
Telsim was one of numerous companies owned by the Uzan family and was taken over by the Turkish Savings and Deposit Insurance Fund (TMSF) after the Uzan family’s Imar Bank collapsed, taking down other family-owned businesses.
