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Arbitration court rejects Turkcell claims against Iran over GSM network tender. [IntelliNews - Weekly Reports]
[October 19, 2014]

Arbitration court rejects Turkcell claims against Iran over GSM network tender. [IntelliNews - Weekly Reports]


(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) A tribunal awarded that it has no jurisdiction to entertain Turkcell's claims against the Islamic Republic of Iran in a case regarding a GSM licence tender, Turkcell, Turkey's largest mobile operator, said on Thursday.



Turkcell had been awarded with the GSM license following the tender initiated to operate a GSM network in Iran, Turkcell said in a filing with the Stock Exchange.  However, on the grounds that the licence had been awarded to another company by the Islamic Republic in an unlawful way, Turkcell have filed an ad hoc arbitration in January 2008, the operator detailed.

Turkcell is assessing possible legal options against the Tribunal's award, the statement added.


A source from the Iranian presidential office told Press TV that the Hague-based Permanent Court of Arbitration also ordered the Turkish company to pay arbitration costs of USD 1.5mn in favour of Iran. Claiming that it had won the bid in the auction, Turkcell had demanded USD 600 million in compensation, Press TV said.

Turkcell (consolidated) Financials (bn TRY) 2013/H1 2014/H1  (y/y) Revenues 5,5 5,8 4,2% Gross Margin 2,1 2,2 7,7% Operating Income 1,6 1,4 -12,3% Net Income 1,1 0,9 -24,2% Source: PDP       (c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info).

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