Sonera, Cukorova buy Turkcell’s stake in Fintur

ISTANBUL-Sonera, Cukorova Group and Turkcell, all shareholders of Fintur Holding B.V., announced they have closed a share purchase agreement in which Sonera and Turkcell have bought Cukorova’s 39.69-percent holding in Fintur. Fintur is a Dutch holding company that has majority stakes in four GSM operators in Azerbaijan, Georgia, Kazakhstan and Moldova.

Following the transaction, Sonera and Turkcell have a 58.55-percent holding and a 41.45-percent holding, respectively in Fintur. Sonera said it plans to consolidate Fintur as of September 1, 2002.