Turkcell Files a Lawsuit Against MTN
Subject: Statement made pursuant to Circular VIII, No: 54 of the Capital Markets Board; Istanbul Stock Exchange
ISTANBUL, March 28, 2012 /PRNewswire/ --
In 2004, Turkcell was awarded Iran's first private GSM license through an international tender. Subsequently Turkcell was barred from concluding its license arrangement, and Iran entered into a license agreement with the South Africa based operator MTN, instead of Turkcell.
Newly received information by Turkcell indicates that the signing of the license agreement with MTN instead of our Company was a consequence of MTN's actions at that time. In light of the harm caused by MTN's actions to both Turkcell and to its shareholders, Turkcell today filed a lawsuit against MTN seeking the compensation of such damages.
Because both companies have extensive business dealings in the United States and due to the allegations that MTN breached rules of international law, the lawsuit has been filed in the United States District Court for the District of Columbia.
Turkcell had previously conducted settlement discussions with MTN, however, MTN terminated the discussions in March through a public announcement. Because the dispute is now part of a formal legal process carried out in the United States, all press inquiries about the case should be directed to Patton Boggs LLP, Turkcell's legal counsel handling the case, at +(1) 202-457-6170.
TURKCELL ILETISIM HIZMETLERI A.S.
SOURCE Patton Boggs LLP
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