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Iranian partners urge TurkCell to abide by commitments

Tehran, Aug 24, IRNA-TurkCell has been given until September 4 by its Iranian partners to observe its commitment, said one of the Iranian partners of the Turkish company.

Ebrahim Mahmoudzadeh, Managing Director of Saa-Iran Company, one of the three Iranian parties to an agreement on the second operator for cellular phone with the Turkish Company, known as IranCell Consortium, told IRNA that talks with the foreign partner are proceeding well and there is hope for continued cooperation with them.

Mahmoudzadeh said that as long as the negotiations are underway, it would be unfair to make any comment in reaction to claims of the foreign shareholders of the Consortium which were published in the press.

A member of TurkCell Board of Directors in a press conference late Tuesday implicitly referred to a row between the Iranian and foreign partners of the project.

Asked about contents of the talks, Mahmoudzadeh said discussions among the shareholders are not within legal framework and are just ordinary talks regarding domestic problems.

Based on the seventh Majlis approval the share of the foreign partner of the second operator for cellular phone was reduced to 49 percent from 70 percent.

The Iranian shareholders of the project are Mostazafan and Janbazan Foundation and Saa-Iran Company, affiliated to Iran's Defense Ministry. The 21 percent share subtracted from the foreign partner has been put under the care of Bank Melli of Iran for three years and is to be ceded to the public through stock exchange.

An official close to foreign partners, who wanted not to be named, told IRNA that there are intensive talks between the partners in Tehran.

IranCell's Managing Director Ma'soum Fardis told IRNA that the license for operation of the project was offered to the Organization of Radio Communications and Regulations on August 17.

Fardis declined to provide further details on the ongoing talks between the Iranian and foreign partners of the project.

A member of TurkCell managerial board told reporters last night that either the Iranian government should provide them with necessary guarantees or IranCell's composition should become transparent and clear from international point of view.

The source said if Central Bank of Iran or the Iranian government avoid giving necessary guarantees, a well-reputed international bank, as an advisor to the contract, should monitor the financial and managerial structure of IranCell.

He made it clear that TurkCell might lodge a complaint with Iran's Judiciary or even international arbitration bodies to protect the rights of the shareholders under TurkCell umbrella.

... Payvand News - 8/24/05 ... --

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