IPO could be delayed by market conditions

8 Apr 2008

The Turkish government could postpone the planned initial public offer (IPO) of shares in Turk Telekom should market conditions not be favourable. A report from local newspaper Zaman quotes Transport Minister Binali Yildirim as saying: ‘If the market is dead we will not do the offering. If the market is lively it will be carried out. The basis of the IPO is the public interest and we will look at that.’ The government is planning a sale of around 15% to 20% of Turk Telekom’s stock in May. A 55% stake has already been sold to Dubai-based telecoms investment firm Oger Telecom.

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