Turkcell expressed concern that any reduction in its stake in a new mobile operator in Iran to 49% could jeopardise the deal.

An Iranian parliamentary commission said that the Turkcell-led consortium may only win the US$ 3.0 billion deal if its stake was cut to 49% from 70%. Turkcell has signed a contract to run Iran's second private GSM operator, but some lawmakers have opposed the Turkish firm, which they accuse of having links to Israel and view as a security risk.

"It is understood there could be changes lowering our stake in the Irancell partnership to 49% and making more difficult ... Turkcell's financial consolidation of Irancell," Turkcell said in a statement.

"If management control and financial consolidation of Irancell cannot be achieved ... the realisation of the project will become risky," it said.

Ahmad Mahdavi, a spokesperson for the Iranian parliamentary commission, said that an outline of the deal had been approved under the new share terms, but said security fears would be discussed on Monday. Parliament is expected to vote on whether to award the deal to Turkcell on Tuesday, after it has debated the commission’s findings.

Intelecon Research & Consultancy Ltd. 31/01/2005
Source: Reuters