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Turkcell Said to Hire Citigroup, HSBC for Fintur Purchase

Turkey’s biggest mobile operator by users hired Citigroup Inc. and HSBC Holdings Plc to advise on the planned acquisition of the portion of TeliaSonera AB’s Fintur Holdings that it doesn’t already own, according to two people with knowledge of the matter.

Turkcell Iletisim Hizmetleri AS signed agreements with the advisers on Monday, the people said, asking not to be identified because the information is confidential. TeliaSonera owns 38 percent of Istanbul-based Turkcell, whose other shareholders are Russian billionaire Mikhail Fridman’s Alfa Group and Cukurova Holding AS of Turkey.

Turkcell is looking to expand after the resolution of a decade-long boardroom deadlock among the three major shareholders that hobbled decision making and blocked dividend payments between 2010 and 2014. The impasse ended last year when regulators intervened and appointed new board members, while Cukurova’s repayment of a $1.6...