Citi, JPMorgan Said Competing for Istanbul Gas IPO Mandate

  • City of Istanbul plans to decide on winning group soon
  • Istanbul plans to use proceeds for infrastructure projects

Citigroup Inc. and JPMorgan Chase & Co. are in competing groups bidding to manage an initial public offering of as much as 51 percent of the gas-grid operator for Istanbul, Turkey’s largest metropolitan area, three people with knowledge of the matter said.

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