Halkbank Gains on Report Wealth Fund Is Considering a Bid
Turkiye Halk Bankasi AS (HALKB), a state-run Turkish bank, rose after Vatan newspaper reported Mubadala Development Co. PJSC, a sovereign wealth fund of the Emirate of Abu Dhabi, is considering making a bid for the lender.
The shares gained 1.9 percent to 11 liras at 11:13 a.m. in Istanbul, outperforming the Turkish banking index, which declined 0.9 percent.
Mubadala officials have visited Turkey several times in the past six months and may be considering an offer of around $10 billion, Vatan reported citing unnamed banking officials.
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