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.
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