16 Jul 2013 19:25

Cukurova asks court for more time to pay Altimo $1.56 bln for Turkcell shares

MOSCOW. July 16 (Interfax) - Cukurova Finance International (CFI) has asked a court for more time to settle with Alfa Telecom Turkey (ATT), which is controlled by the Russian Alfa-Group's telecoms arm Altimo, for shares in Turkcell, UK's Judicial Committee of the Privy Council said.

The Privy Council said last week that Cukurova must pay $1.564 billion to Alfa Telecom Turkey within 60 days in order to regain control of a 13.8% stake in Turkcell.

Cukurova said it had applied for an extension until appeals have been resolved in a separate case with TeliaSonera that is being heard by the U.S. Court of Appeals.