Government to hold Turk Telekom tender after July 15

Holding a press conference about Turk Telekom sell-off, Yildirim said that the tender process for the block sale of Turk Telekom would start after May 20, deadline for registration for information.

Yildirim said that the privatization of Turk Telekom was arranged with a special law, adding that the result of value determination studies would not be announced before the tender. He noted that both the value of the company and the bids would be evaluated by the cabinet.

Independent commissions consisting of Transport Ministry, Privatization Administration and Treasury officials are carrying out Turk Telekom’s privatization tender studies.

Turkish industrial conglomerates Koc and Sabanci are interested in the tender. They last month announced that U.S. investment bank Goldman Sachs would act as their adviser in the Turk Telekom sell-off.

The estimated value of Turk Telekom is close to $2 billion, as the slump in network opertaors continue.