Telia reduces its stake in Turkcell by 7% via TL1.77bn block trade

Turkcell_PA_230x150
By Aidan Gregory
03 May 2017

Telia, the Nordic telecoms group, came to market on Wednesday night with a large block trade in Turkcell, the Turkish firm in which it owned 38% directly and indirectly.

Bank of America Merrill Lynch, Citigroup and UBS launched the trade after the market close, and said they had visibility on 90% of the deal size from a wall-crossing exercise. Price guidance was with reference to market.

The block initially consisted of 150m shares, a 6.8% stake in ...

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