June 17 (SeeNews) - Sweden's telecommunications services provider Telia Company said it is in talks for the potential sale of its indirect stake in Turkish mobile phone operator Turkcell [IST:TCELL] to Turkey's sovereign wealth fund for some $530 million (470.6 million euro).
"Negotiations with Turkey Wealth Fund (TWF) are in an advanced stage, but no agreement has yet been reached," Telia Company said in a statement on Tuesday.
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Telia owns 47.1% of Turkcell Holding, the company that holds a stake of 51% in Turkcell. Besides Telia, the holding company has as its shareholders Turkish conglomerate Cukurova and Luxembourg-based investment vehicle LetterOne.
Turkcell has been operating in Turkey since 1994.
($ = 0.8880 euro)