Wednesday, May 24, 2006

Vodafone Completes Telsim Acquisition, Motorola and Nokia Receive Payments

Vodafone completed its acquisition of Turkish cellular phone operator, Telsim Mobil Telekomunikasyon (Telsim).

Following completion of the transaction, Motorola received a cash payment of US$410 million pursuant to an agreement previously reached to settle Motorola's financial and legal claims against Telsim and certain other parties.

Nokia has received a settlement payment of US$341.25 million.

Both vendors expressed satisfaction at closing the long-running dispute with Telsim.


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