June 16, 2020 / 3:20 PM / a month ago

Turkish fund in talks with Sweden's Telia to buy Turkcell stake - Bloomberg HT

ISTANBUL, June 16 (Reuters) - Turkey’s Wealth Fund is in talks to buy a stake in Turkish telecom company Turkcell that is owned by Swedish telecom operator Telia , Bloomberg HT reported on Tuesday, citing unnamed sources.

The talks between the fund and Telia were at an advanced stage, the sources said. Telia owns 24% of Turkcell’s shares.

Turkcell’s shares were up 2.08% at Tuesday’s close. Telia shares were up 5.5% before trading in the stock was suspended.

Telia, Turkcell and the wealth fund were not immediately available for comment.

Reporting by Ezgi Erkoyun; Writing by Ali Kucukgocmen; Editing by Edmund Blair

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