Turkish gov't may hold second public offering for Turk Telekom shares

Turkish government may hold a second public offering for its shares in Turk Telekom, Turkey's fixed line operator, a cabinet member said on Wednesday.

Turkish gov't may hold second public offering for Turk Telekom shares

Turkish government may hold a second public offering for its shares in Turk Telekom, Turkey's fixed line operator, a cabinet member said on Wednesday.

Transportation Minister Binali Yildirim said that timing of the public offering would depend on market conditions.

However, he pointed out the advantages of 2010 which the government considers it would be a year that impacts of the global downturn would mitigate.

Yildirim did not elaborate on the percentage of shares to be offered to public.

In 2005, Turkey sold a 55 percent stake in Turk Telekom to Saudi Oger for 6.5 billion USD. In May 2008, Turkey raised 1.9 billion USD in the initial public offering for 15 percent stake in Turk Telekom. Turkish Treasury owns the remaining 30 percent shares.

"We aim to achieve the utmost public interest," Yildirim said.

Turk Telekom has around 16.8 million fixed line subscribers, 6 million ADSL customers and 12.1 million GSM subscribers as of September 30, 2009. Turk Telekom is also the owner of 81 percent of shares in Avea, which is one of the three mobile phone operators in Turkey.


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Last Mod: 06 Ocak 2010, 16:22
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