Oger nearing sale of Turk Telekom stake

6 Nov 2017

Turkey’s communications minister Ahmet Arslan, quoted by the Daily Sabah, has indicated that ‘many’ potential buyers have applied to purchase the 55% stake in Turk Telekom controlled by the Saudi Oger group via Oger Telecom and other partners. The minister stressed that Oger is not authorised to transfer its stake without the approval of the Information and Communication Technologies Authority (BTK) and the Transport, Maritime Affairs and Communications Ministry, whilst Turk Telekom ‘has not directly signed any debt, obligation or share pledge agreement.’ Arslan noted that shares would be transferred ‘once a suitable applicant is found’, and added that there is no possibility of the once-state-owned telco being expropriated by the government, while a 15% public float would remain at the same level.

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