Turkcell, Turkey's leading GSM operator of Turkey, on Thursday denied claims of U.S. pressure to abandon its planned takeover of a Syrian operator. Turkcell said talks with Syrian operator, Syriatel, continue.
According to the Reuters article on Wednesday, the U.S. Treasury Department warned American investors in Turkcell, which is both listed on the
Syriatel is at least 69 percent owned by Rami Makhlouf, the cousin of President Bashar al-Assad.
Turkcell is expected to pay approximately $1 billion in cash if the deal of buying most of the shares of Makhlouf, one of
Makhlouf, 39, has denied the
A Turkcell-Syriatel deal would be one of the largest in the region's telecom sector. The two companies have a majority share of the market in their respective countries.