Philip Morris Interested in TEKEL

A partner of the Sabanci Holding Company, Philip Morris said it had been eyeing TEKEL for 17 years and this time it’s interest in the Turkish monopoly was serious.

The talks with the American company form part Turkey’s US roadshow, a drive to introduce Turkish monopolies to international investors. The international roadshow, led by Unakitan, Privatization Board Chairman Metin Kilci and Budget and Finance Control Deputy General Director Ahmet Kesik are currently in New York. It had been launched by the finance ministry and state officials in the second week of June and is organized by the Citi Group.