TeliaSonera: TeliaSonera's Agreement on Purchase of Turkcell Shares Valid
Exhibit
99.1
TeliaSonera:
TeliaSonera's Agreement on Purchase of Turkcell Shares
Valid
STOCKHOLM,
Sweden--(BUSINESS WIRE)--Jan. 26, 2007--An arbitration tribunal of the
International Chamber of Commerce has issued an award finding that a binding
share purchase agreement was concluded between TeliaSonera (OTC:TLSN) (STO:TLSN)
(HEX:TLS1V) (LSE:TEE) and Cukurova in 2005, calling for Cukurova to sell all
the
remaining shares in Turkcell Holding to TeliaSonera for a cash consideration
of
USD 3.1 billion (approximately SEK 21.7 billion), thereby increasing
TeliaSonera's effective ownership to 64.3 percent in Turkcell.
The
tribunal held that Xxxxxxxx is obligated to join TeliaSonera in good faith
efforts to bring about a closing of the Turkcell Holding transaction. The
tribunal retains jurisdiction of the matter until the parties report back on
their efforts to reach closing. The tribunal further held that even if Xxxxxxxx
proceed to closing of the transaction, the responsibility to pay potential
damages due to the delay in proceeding to closing remains.
"I
am of
course very pleased with this decision, which is in line with what we have
claimed all the time," comments Xxxxxx Xxxx, President and CEO of TeliaSonera,
and continues "We hope to conclude the transaction with Xxxxxxxx, but even
if
the share purchase agreement is binding, we do not yet know if Xxxxxxxx is
willing to, or able to, proceed with a transfer of the shares to
TeliaSonera."
On
March
25, 2005, an agreement was announced in which Xxxxxxxx agreed to sell all the
remaining shares in Turkcell Holding to TeliaSonera. The award results from
an
arbitration proceeding in Geneva that TeliaSonera commenced in May 2005, against
Xxxxxxxx after Xxxxxxxx withdrew from the transaction.
Forward-Looking
Statements
Statements
made in the press release relating to future status or circumstances, including
future performance and other trend projections are forward-looking statements.
By their nature, forward-looking statements involve risk and uncertainty because
they relate to events and depend on circumstances that will occur in the future.
There can be no assurance that actual results will not differ materially from
those expressed or implied by these forward-looking statements due to many
factors, many of which are outside the control of TeliaSonera.
TeliaSonera
is the leading telecommunications company in the Nordic and Baltic regions.
At
the end of December 2005 TeliaSonera had 19,146,000 mobile customers (69,887,000
incl associated companies) and 7,064,000 fixed telephony customers (7,688,000
incl associated companies) and 2,263,000 internet customers (2,331,000 incl
associated companies). Outside the home markets TeliaSonera has extensive
interests in the growth markets in Russia, Turkey and Eurasia. TeliaSonera
is
listed on the Stockholm Stock Exchange and the Helsinki Stock Exchange. Net
sales January-December 2005 amounted to SEK 87.7 billion. The number of
employees was 28,175.
xxxx://xxx.xxxxxxxx.xx/xxxxx/00/00/00/00/00/00/0X/X0/xxx0000.xxx
This
information was brought to you by Waymaker
xxxx://xxx.xxxxxxxx.xxx
CONTACT:
TeliaSonera AB
Xx
Xxxxx
Xxxxxxx, (0)0-000 00 00
President
of Business Area Eurasia
via
TeliaSonera's Press Office
