Preparations completed for Turkish telco sell off
In 2005, the Oger Telecoms group gained a 55 percent stake in Turk Telecom after bidding $6.55 billion in the state tender.
A public offering for 15 percent of shares in Turk Telekom will be held between May 7 and 9, the head of Turkey’s Privatization Administration said Monday.
Privatization Administration chairman Metin Kilici said the public offering was aimed at encouraging small scale investors and workers and the amount of shares on offer could be extended to 17.5 percent depending on the response to the IPO.
However, Kilic would not be drawn on whether the price range for the sale, set between 3.90 to 4.70 lira, was too high or too low.
With the sale, the Turkish Treasury will retain between 27.5 and 30 percent of the land line monopoly’s shares.