Bid deadline approaches for Turk Telekom sell-off

21 Jun 2005

Final bids for a 55% stake in Turk Telekom are due to be submitted by Friday. But even at the eleventh hour, confusion still appears to surround the planned sale, particularly in respect to what will happen to Telecom Italia’s 40% stake in the group’s wireless arm TT&TIM (Avea), if the Italian telco is not successful in acquiring the parent. Telecom Italia has already gone on record to say that it will seek to sell its holding in Avea if its consortium with the Saudi Oger is not the winner of the TT stake. However other interested parties, including UAE-based telco Etisalat, have requested clarification on how, when and at what price the stake would be sold.

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