Competition Board Fines Turkcell

The Turkish competition board fined Turkcell 91.942 million lira in an investigation into whether Turkcell abused its market leading position through applications to distributors.The Competition board said the company didn’t violate competition, but distributors abused the market dominant position.

The fine amounts for about 6 percent of the 2011 profit forecast and is slightly negative for Turkcell, said BGC Partners analyst Erdem Hafizoglu, adding Turkcell would appeal and the process will continue for a while.

Shares of Turkcell fell 0.9 percent from 0.2 percent before the decision.

10.06.2011
SOURCE: SABAH ENGLISH