Telia Company, in response to media speculation regarding a potential divestment of its stake in Turkcell holding, has confirmed that discussions are currently ongoing with the Turkish wealth fund regarding a potential divestment of its indirect stake in Turkcell for approximately $530 million (€471.8m).

In a statement, Telia said: “Negotiations are still ongoing and are in an advanced stage, but no agreement has yet been reached, Telia Company has no further comments at this stage but will communicate further if and when appropriate.”

Telia Company owns 47.1 percent of Turkcell Holding, a holding company owned by Cukurova, LetterOne and Telia Company. Its only operation is the ownership of 51 per cent in Turkcell.

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Tags: Turkcell. telia, Turkey