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February 23, 1993

20% STAKE OF TURKISH TELECOM FIRM TO BE OFFERED TO PUBLIC

By CBR Staff Writer

Turkey’s privatisation body KOI says it will sell a 20% stake in Turkey’s second largest telecommunications firm, Netas Northern Electric Telekomunikasyon AS, to the public between March 3 and 5, Reuter reports from Istanbul: KOI approved a 20% block sale in Netas to Northern Telecom Ltd for $26m earlier this month to take the Canadian’s stake in Netas to 71%; KOI says that it will sell the other 9% in a future public offering.

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