Associated companies

On May 25, 2017, Turkcell’s Ordinary General Assembly was convened and a dividend of 3,000 million Turkish lira was declared. The payment of dividend was made in three equal installments to the shareholders. First on June 15, second on September 15, and the third on December 15, 2017.

No material changes took place in the corporate governance of Turkcell during the year, regarding the continued deadlock between the shareholders Çukurova, LetterOne and Telia Company. Telia Company is actively trying to contribute to the resolution of the deadlock through continued contacts with both Çukurova and LetterOne. The Turkcell Board of Directors consisted of seven independent members, all appointed by the Turkish Capital Markets Board (CMB). For information regarding certain disputes related to shares in Turkcell Holding, see Note C29 to the consolidated financial statements.

For more information on acquired and disposed associated companies, see section Acquisitions and Disposals.