The Turkish Privatisation Administration has appointed a consortium of advisers to manage the potential sale of the state’s stake in Turk Telekom.
Garanti Securities, Barclays Bank and law firms Chadbourne & Parke, Danismanlik Hizmetleri Avukatlik…
The Turkish Privatisation Administration has appointed a consortium of advisers to manage the potential sale of the state’s stake in Turk Telekom.
Garanti Securities, Barclays Bank and law firms Chadbourne & Parke, Danismanlik Hizmetleri Avukatlik Ortakligi, Cigdemtekin Sahbaz Avukatlık Ortakligi and Atar & Vicdan Avukatlik Burosu won the tender for the job, Turk Telekom announced.
Garanti Securities led Turk Telekom’s US$1.9bn IPO in 2008.
Deputy prime minister Ali Babacan told reporters earlier this month that the treasury, which owns 31.68% of the telco, initially plans to sell a 7% stake. The sale will take the form of a public offering or block sale, Reuters reported.
The group’s largest shareholder is Riyadh-based Saudi Oger, with a 55.8% stake, while the Turkish Treasury’s 31.68% stake makes it the second largest investor. The remaining 12.5% of shares are floated on the Istanbul Stock Exchange.
