Bloomberg Anywhere Login


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.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Migros Rises to Two-Year High on Buyout Interest: Istanbul Mover

May 2 (Bloomberg) -- Migros Ticaret AS surged to a two-year high after Carrefour SA’s Turkish joint-venture partner said it’s considering buying the grocery chain.

The shares rose 2.4 percent to 23.8 liras at the close in Istanbul, the highest level since May 2011. Almost 6.2 million shares traded, more than six times the stock’s three-month daily average, according to data compiled by Bloomberg. The Borsa Istanbul National 100 index jumped 3.1 percent to the highest since at least January 1988.

CarrefourSa Carrefour Sabanci Ticaret Merkezi AS, a joint venture of Carrefour and Haci Omer Sabanci Holding AS, may consider acquiring Migros, Sabanci’s retail group chief Haluk Dincer told reporters in Istanbul today. Sabanci said April 30 it will raise its stake in CarrefourSa by 12 percentage points to 50.8 percent.

“There’s an interest toward Turkish equities in general,” Cemal Demirtas, head of research at Ata Invest in Istanbul, said by phone today. Sabanci may focus on making CarrefourSa profitable before it considers acquisitions, he said.

The company reported an annual loss of 5.5 million liras ($3.1 million) last year, its fourth in a row.

Profit at Migros, owned by private equity firm BC Partners Ltd., will probably climb 35 percent to 118.8 million liras this year, according to the average estimate of 22 analysts on Bloomberg. Eighteen analysts recommend buying the shares, while seven say hold and three sell, the data show.

To contact the reporter on this story: Taylan Bilgic in Istanbul at

To contact the editor responsible for this story: Claudia Maedler at

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.