Companies / Turkey
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Avea Repositions Itself To Take On Competitive Market
April 2006 | Company News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The Turkish government has begun the process of relinquishing its remaining 45% stake in fixed line operator Turk Telekom. The government, which sold a 55% stake at a cost of US$6.55bn in November 2005 to Saudi Oger will sell off its stake by way of an initial public offering (IPO). However, under the terms of the agreement, it must wait one year before it is able to launch the IPO, although it has begun to gear up for the impending offer by forming a five-member board. The team will be made up of representatives from the Treasury, Privatisation Administration and