Nordic Business Report-August 19, 2005-TeliaSonera AB initiates arbitration against Cukurova
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Finnish-Swedish telecomms group TeliaSonera AB said on Friday (19 August) that had initiated an arbitration proceeding at the International Court of Arbitration of the International Chamber of Commerce based on alleged breach of a shareholders' agreement between TeliaSonera and Cukurova concerning Turkcell. The arbitration will take place in Vienna, Austria. TeliaSonera claims that the announced transaction between Cukurova and Alfa concerning indirect shareholding interests in Turkcell breaches the shareholders' agreement between TeliaSonera and Cukurova. TeliaSonera added that it had initiated an arbitration proceeding against Cukurova in June 2005. In that proceeding TeliaSonera alleged that Cukurova had breached an agreement to sell the shares in question to TeliaSonera.
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