The Turkish Privatisation Administration is seeking advice from financial consultants and investment banks on the potential sale of the state’s 31.68% stake in Turk Telekom.
The Turkish telecoms group announced the news in a brief statement today (13…
The Turkish Privatisation Administration is seeking advice from financial consultants and investment banks on the potential sale of the state’s 31.68% stake in Turk Telekom.
The Turkish telecoms group announced the news in a brief statement today (13 September), without revealing any other details.
The group’s largest shareholder is Oger Telecom, 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.
Privatised in 2005, Turk Telekom staged its IPO in 2008. The company recently secured a €100m (US$127m) long-term loan with the European Bank for Reconstruction and Development (EBRD) to finance the expansion of its fixed broadband networks.
Turk Telekom has a current market value of TL25.83bn (US$14.26bn).
