State approves TT sale to Oger

The Turkish Council of State has affirmed the block sale of 55% of Turk Telekom to Oger Telecom, unanimously overruling requests for the sale to be made void. The final draft of the sale agreement has now been sent to the government’s Administrative Affairs department of the State Council for approval. Once that is granted, the Oger Telecom consortium and members of the Privatisation Administration and the Ministry of Transportation will jointly sign a transfer agreement. Oger will then appoint six members to the ten-strong board; the remainder will be nominated by Turk Telekom itself.