Cukurova in violation of the Turkcell Holding shareholders' agreement

Cukurova in violation of the Turkcell Holding shareholders' agreement

An arbitration tribunal of the International Chamber of Commerce in Vienna has
issued an award finding that Cukurova has violated certain share transfer
restrictions in the shareholders' agreement between Cukurova and TeliaSonera
relating to Turkcell Holding.

The violation occurred in connection with a transfer of Cukurova Holding's
shares in Turkcell Holding to Cukurova Telecom Holdings, a joint venture formed
in 2005 between the Turkish Cukurova Group and the Russian Alfa Group. The
arbitration tribunal in Vienna has ordered Cukurova Holding to take all measures
available to it, including good faith negotiations with Alfa, to repurchase the
transferred shares. The arbitration tribunal has reserved its rights to decide
about other claims brought by TeliaSonera, including damages. 

Turkcell Holding owns 51 percent of the shares in Turkcell, the largest mobile
operator in Turkey. TeliaSonera owns 47 percent of the shares in Turkcell
Holding. TeliaSonera also owns 13 percent of the shares in Turkcell, giving
TeliaSonera a direct and indirect ownership of 37 percent in Turkcell. 

Cukurova had in a counterclaim argued that the merger between Telia and Sonera
in 2002 violated the share transfer restrictions in the shareholders' agreement,
but Cukurova's counterclaim was dismissed by the arbitration tribunal. 

The award results from an arbitration proceeding in Vienna that TeliaSonera
commenced in August 2005. 

In January 2007, another arbitration tribunal of the International Chamber of
Commerce issued an award finding that a binding share purchase agreement was
concluded between TeliaSonera and Cukurova in 2005, calling for Cukurova to sell
all its shares in Turkcell Holding to TeliaSonera. The award results from an
arbitration proceeding in Geneva that TeliaSonera commenced in May 2005 against
Cukurova, after Cukurova withdrew from the transaction and entered into another
transaction with Alfa. 

TeliaSonera hopes to execute the transaction with Cukurova but, even if the
share purchase agreement is binding and Cukurova acted in violation of the
Turkcell Holding shareholders' agreement, Cukurova may not be able, or willing,
to proceed with the transfer of the Turkcell Holding shares to TeliaSonera.


TeliaSonera AB discloses the information provided herein pursuant to the Swedish
Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The
information was submitted for publication at 10 am on March 7, 2008.

For further information journalists can contact:
TeliaSonera AB, +46-(0)8-713 58 30

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including future performance and other trend projections are forward-looking
statements. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will
occur in the future. There can be no assurance that actual results will not
differ materially from those expressed or implied by these forward-looking
statements due to many factors, many of which are outside the control of
TeliaSonera.



TeliaSonera is the leading telecommunications company in the Nordic and Baltic
region, with strong positions within mobile communications in Eurasia, Turkey
and Russia. At the end of 2006, we launched mobile services in Spain. 
We are the leading European provider of quality cross-border voice, IP and
capacity services, provided through our wholly-owned international carrier
network. In 2007, TeliaSonera's net sales amounted to SEK 96 billion, and at the
end of December 2007 the total number of subscriptions exceeded 114 million in
17 countries. The TeliaSonera share is listed on the Stockholm Stock Exchange
and the Helsinki Stock Exchange, and the company is included in the Dow Jones
Sustainability Index. Simplicity and service are important tools for us in
creating profitable growth and value for our customers and shareholders. Read
more at www.teliasonera.com