Besiktas Plunges to Lowest in Two Years on UEFA Ban, Fine
Besiktas Futbol Yatirimlari Sanayi & Ticaret AS (BJKAS), the merchandising unit of Turkish sports club Besiktas, plunged to the lowest in almost two years after saying its soccer team was banned from European competitions for a year.
Besiktas fell 8.8 percent to 4.33 liras at the close in Istanbul, the lowest level since July 2010.
The Union of European Football Associations, or UEFA, imposed a one-year ban and a 200,000 euro ($248,000) fine on Besiktas for erroneous financial statements, the club said in a statement to the Istanbul Stock Exchange today.
To contact the reporter on this story: Aydan Eksin in Istanbul at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org