Government approves TT sale

The Turkish government has given its approval for the sale of a 55% stake in Turk Telekom to a consortium led by Oger Telecom, announced on 1 July. The final go-ahead now rests with the president, Ahmed Necdet. In the interim the country’s Privatisation Administration will begin work on a preliminary franchise agreement with Oger, which will then be sent to the Council of State for approval. The entire procedure is expected to be completed in October or November 2005.