Turkey may extend Tekel deadline

Turkey’s finance minister said on Friday Ankara may extend a deadline for bids on state cigarette and spirits maker Tekel because of a high level of interest in the flagship privatisation.

Tekel is part of Turkey’s ambitious sell-off plans for 2003, under which it aims to launch privatisations worth $4 billion amid tight budgetary constraints under its $16 billion loan pact with the International Monetary Fund.