Russian billionaire Mikhail Fridman grabbed the opportunity of a short-lived rebound in the lira and a rally in global markets to benefit from the sale of a stake in Turkey’s largest mobile-phone operator.
The disposal of 5% in Turkcell Iletisim Hizmetleri AS for about $205 million was done Monday through an accelerated share-sale process where demand outstripped supply. Credit Suisse Group AG and Goldman Sachs Group Inc. acted as joint global coordinators and book-runners for the deal.
