Turk Telekom lodges USD530m bid for 53% stake in DigiTurk

29 Jul 2013

Turk Telekom has offered USD530 million to buy a 53% stake in local pay-TV operator DigiTurk, Reuters reports, quoting Sakir Ercan Gul, the head of the Savings Deposit Insurance Fund (TMSF). The state body seized control of DigiTurk in May this year after its owner, troubled conglomerate Cukurova Group, ran into financial difficulties. Gul announced: ‘We have only received one non-binding bid from a single company, and that is a USD530 million bid for Cukurova’s stake, bringing the total value [of the company] to USD1 billion’.

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