Turkey’s incumbent telco offered US$530m to buy 53% of local DTH firm Digiturk, it has emerged.
Sakir Ercan Gul, head of Turkish regulator Savings Deposit Insurance Fund (TMSF), also reportedly told Sky 360 television that an additional three to four…
Turkey’s incumbent telco offered US$530m to buy 53% of local DTH firm Digiturk, it has emerged.
Sakir Ercan Gul, head of Turkish regulator Savings Deposit Insurance Fund (TMSF), also reportedly told Sky 360 television that an additional three to four other parties are interested, including Turkish conglomerate Dogus Group.
Dogus was unable to comment before the press deadline.
Turk Telecom is the only group to have submitted a bid, which is an unbinding offer that values the entire group at around US$1bn.
The 53% stake is owned by Çukurova, a Turkish diversified holding company. However, it is under the control of the TMSF after Çukurova missed certain payments.
Private equity firm Providence Equity Partners owns the remaining shares.
A spokesman for Turk Telecom previously told TelecomFinance that it would be open to buying the rest of Digiturk, although there was no indication from Providence that it was looking to sell.
Providence, which declined to comment on the matter, has been tipped as a possible seller in the past, but also as a buyer of the shares it does not own.
Other rival suitors that have been in the frame include cable giant Liberty Global, French satellite TV broadcaster Canal+, and US-based media groups Time Warner and News Corp.
