Deals
Turkcell Jumps as Wealth Fund Takes Control and Billionaire Ups Stake
- Swedish operator Telia to fully exit 27 year-old investment
- Changes will end 15-year-old shareholder fight for control
A pedestrian uses his mobile phone in front of a Turkcell advertisment in Istanbul.
Photographer: Staton R. Winter/Bloomberg
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Turkcell surged the most in almost nine years after Turkey’s wealth fund agreed to take control of the nation’s largest mobile phone operator, ending a feud that hampered the company’s growth plans and dividend payouts.