Alcatel Alsthom SA has taken a majority stake in the Turkish telecommunications equipment manufacturer Teletas Telekomunikasyon Endustri Ticarat SA after buying a further 18% from the state Public Participation Administration. It did not give financial details said the Turkish firm had turnover equivalent to $130m last year. Alcatel now has 65% of Teletas’s equity, including the 39% owned by its Belgian subsidiary Alcatel Bell. The sale is part of the Turkish government’s plan to privatise major public companies; the government announced plans to sell the stake last year, but had planned to offer shares to the Turkish public (CI No 1,955).
