Sale in Turk telecom expected on 2010

www.WirelessFederation.com/news: To sell the remaining 31.7% stake in incumbent fixed line operator Turk Telekom (TT), a second public offering this year could be held by Turkish government. 15% stake in TT was offloaded via an initial public offering (IPO) in May 2008, raising around TRY2.42 billion (USD1.9 billion) for state coffers.

Earlier, country’s privatisation administration denied that it had started preparations for a TT stake sale. The administration has a revenue target of TRY10.4 billion for 2010 and is overseeing sales of electricity and gas grids, roads and sugar factories.

According to Turkish Communications Minister Binali Yildirim, privatisation administration is working on public offering and the situation on the stock exchange and global financial markets will determine the timing which could be in 2010. Further investments will determine the size of the public offering.