In the Board of Directors' Meeting held on September 16, 2003;
In context of Çukurova Group's option to purchase Fintur Technologies B.V and Digital Platform Iletisim Hizmetleri A.S from our Bank over net book values until January 31, 2004, as defined in Article 27 to the agreement signed between BRSA, SDIF and the representatives of Çukurova Group on January 31, 2003;
It was decided to commence the necessary studies to transfer our Bank's direct and indirect shareholding of 72.5% in Digital Platform Iletisim Hizmetleri A.S. to Turktell Bilisim Servisleri A.S. (99.99% owned by Turkcell Iletisim Hizmetleri A.S.).
If the transaction is realized, the shares will be transferred over book value of approximately $108 million and consequently there will not be any capital gains or losses.
Yapı Kredi / 17 Sep 2003