The Turkish treasury is mulling over a plan to list a part of its stake in Turk Telekom (TT) in a public offering.
Recently, it had emerged that the Turkish privatisation administration considers a sale of the state’s 31.68% stake in the telco and…
The Turkish treasury is mulling over a plan to list a part of its stake in Turk Telekom (TT) in a public offering.
Recently, it had emerged that the Turkish privatisation administration considers a sale of the state’s 31.68% stake in the telco and that it is seeking financial advice on the exit plans.
According to a wire report, communications minister Binali Yildrim told local newspaper Zaman that the government may offer up to half of its stake in an IPO.
The minister also said a public offering could come before the end of the year and the country’s privatisation administration is working out how much of its stake in TT the government should relinquish. The majority of TT, 55%, is held by Saudi Oger, headquartered in Riyadh.
Meanwhile new TT CEO Tahsin Yilmaz told journalists that it has set aside €300m (US$387m) for acquisitions.
