The international holding Freedom Holding Corp. has explained why its founder and key stakeholder Timur Turlov quit Kcell’s board of directors. (The mobile operator operates under the Kcell brand.)
According to the holding, Turlov’s decision was voluntary and motivated by the desire to avoid a conflict of interest as he wanted to focus on his business in mobile communications. The businessman became a member of the company’s board of directors as a representative of Freedom Finance, which owns a stake in Kcell, in 2019.
Freedom Finance bought 9.08% of Kcell’s shares two years earlier. Since then, the company increased its...