This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Turkcell Dismisses Case Without Prejudice

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.

ABOUT TURKCELL

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

SOURCE Turkcell

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,040.37 +29.69 0.16%
S&P 500 2,111.73 +4.34 0.21%
NASDAQ 5,082.9290 +12.9030 0.25%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs