China’s Tatwah rumoured as suitor for Turk Telekom

28 Sep 2018

Chinese device manufacturer Tatwah Smartech Co is among parties involved in ongoing ownership talks regarding Turk Telekom (TT), reports Bloomberg citing four people with direct knowledge of the matter. Last month the transfer of a 55% stake in TT to a group of 29 creditor banks via a special purpose vehicle (SPV) received final approval by Turkey’s Ministry of Treasury and Finance. The banks plan to sell the stake – relinquished by indebted Ojer Telekomunikasyon AS (OTAS, itself owned by Oger Telecom [Dubai] and Saudi Telecom Company) – but discussions are ongoing and no final agreements have been reached, Bloomberg’s anonymous sources said. A sale to Tatwah is reportedly one of several possible solutions being considered.

The Turkish government retains a 25% direct stake in TT plus a ‘golden’ voting share.

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