Turkey Wants Telecom Giant’s Shareholder Banks to Finance Buyout
- Sovereign wealth fund wants to buy banks’ Turk Telekom stake
- Fund wants shareholder banks to finance its stake purchase
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Turkey has approached banks holding a majority stake in the country’s telecom giant to finance a planned buyout of the firm by the nation’s sovereign wealth fund.
The fund, known as TWF, is in preliminary talks with private lenders that jointly hold a 55% stake in Turk Telekomunikasyon AS, according to people with direct knowledge of the matter.