Nokia receives a payment of USD 341 million from the Turkish government... May 27th 2006
in the settlement of the Telsim matter. Nokia has received a settlement payment of USD 341.25 million following the completion of the sale of Telsim s assets... 
in accordance with an arrangement with Telsim and the Turkish Savings and Deposit Insurance Fund (TMSF), which sold Telsim s assets to Vodafone. This follows the settlement reached in August 2005 of Nokia s financial claims against Telsim, subject to the successful sale of the Turkish network operator s assets.
Nokia is pleased with the resolution of the issue with Telsim. The closing of the settlement agreement opens the way for Nokia s continued support for Telsim s operations, which will benefit not only Telsim s subscribers but also the Turkish telecommunications market at large.
Nokia s claims arose from Telsim s default on its repayment obligations under a loan facility related to network equipment delivered in 2000. In February 2004, the Arbitral Tribunal in Zürich fully approved the claim against Telsim.
Nokia http://www.nokia.com
May 27th 2006
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