Turkcell Dismisses Case Without Prejudice
U.S. Supreme Court's Ruling in Kiobel Requires Change of Jurisdiction
ISTANBUL, May 1, 2013 /PRNewswire/ -- Turkcell (NYSE: TKC, ISE:TCELL), the leading communications and technology company in Turkey, today filed a Notice of Dismissal Without Prejudice of its Complaint in the United States against MTN Group Ltd. and its subsidiary MTN International (Mauritius) Ltd. The U.S. District Court for the District of Columbia stayed Turkcell's case on October 12, 2012 pending the U.S. Supreme Court's decision in Kiobel v. Royal Dutch Petroleum on the jurisdictional authority. On April 17, 2013, the U.S. Supreme Court decided the Kiobel matter and applying a "presumption against extraterritoriality." In light of the Kiobel ruling, Turkcell has voluntarily dismissed the matter, based only upon jurisdiction, without prejudice to the merits of the case and to re-file the case in another jurisdiction.
BACKGROUND ON THE CASE:
On March 29, 2012, Turkcell announced that the Company had filed a lawsuit against MTN in the United States District Court for the District of Columbia, claiming that it had been left out during Iran's first private GSM 900/1800 license process due to MTN's actions and that Turkcell has to be compensated for its damages.
Turkcell is the leading communications and technology company in Turkey, with 34.7 million subscribers and a market share of approximately 53% based on June 30, 2012 results. Turkcell is a leading regional player, with market leadership in five of the nine countries in which it operates with its approximately 65.8 million subscribers as of June 30, 2012. It has become one of the first among the global operators to have implemented HSPA+. It has achieved up to 43.2 Mbps speed using the Dual Carrier technology, and is continuously working to provide the latest technology to its customers, e.g. 84 Mbps in the near future. Turkcell reported a TRY2.6 billion (US$1.4 billion) net revenue with total assets of TRY17.4 billion (US$9.6 billion) as of June 30, 2012. It has been listed on the NYSE and the ISE since July 2000, and is the only NYSE-listed company in Turkey. Read more at www.turkcell.com.tr
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