Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Akbank Drops for 6th Day in Istanbul on Citigroup Disposal

May 28 (Bloomberg) -- Akbank TAS, the Turkish bank part-owned by Citigroup Inc., dropped for a sixth day after the U.S. lender reduced its stake by more than half last week.

The shares dropped 2.2 percent to 5.32 liras at the close in Istanbul, the lowest since July 2009.

Citigroup sold 404 million shares in Akbank, or a 10.1 percent stake, for 5.24 liras each, it said in a statement last week. Citigroup will retain its remaining 9.9 percent stake in Akbank for three years.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.