Akfen Rises to 8-Month High After Starting Talks to Sell Unit

Akfen Holding AS (AKFEN), a Turkish group active in construction, energy and tourism, jumped to the highest level in almost eight months after saying it started talks to sell a stake in its hydropower unit.

Akfen rose 5.1 percent to 10.32 liras at the close in Istanbul, erasing earlier losses and reaching the strongest level since July.

The company started talks with Aquila Hydropower Invest Investitions GmbH & Co. to sell a stake in Akfenhes Yatirimlari & Enerji Uretim AS after the German company made a bid, Akfen said in a statement to the Istanbul Stock Exchange today.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.