Russia's Alfa Telecom said it had completed the purchase of 13.22 R per cent of Turkey's Turkcell, a sale challenged by SwedishFinnish operator TeliaSonera. Earlier this year, Alfa Telecom, a subsidiary of the Alfa Group, moved to obtain the stake indirectly through a deal with Cukurova, the biggest shareholder in Turkcell, under which it bought convertible bonds for $1.593 billion (1.364 billion euro). TeliaSonera, which holds a 37 per cent stake in Turkcell, has launched arbitration proceedings against Cukurova for breaching the shareholders' agreement.